FORA Capital LLC Makes New $400,000 Investment in Flowserve Co. (NYSE:FLS)

FORA Capital LLC purchased a new position in shares of Flowserve Co. (NYSE:FLS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,947 shares of the industrial products company’s stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its position in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after buying an additional 479 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve in the 3rd quarter valued at $29,000. Colonial Trust Co SC lifted its holdings in shares of Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 478 shares in the last quarter. UMB Bank n.a. increased its holdings in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 595 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Down 0.3 %

NYSE:FLS opened at $47.75 on Friday. The stock has a 50-day simple moving average of $46.18 and a 200 day simple moving average of $54.80. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Friday, March 28th. Flowserve’s dividend payout ratio is presently 39.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen upped their target price on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com raised shares of Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Mizuho boosted their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Citigroup cut their price objective on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $64.11.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.