Flowserve Co. (NYSE:FLS) Shares Acquired by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP grew its holdings in Flowserve Co. (NYSE:FLS) by 25.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 231,220 shares of the industrial products company’s stock after acquiring an additional 47,220 shares during the quarter. Hudson Bay Capital Management LP owned 0.18% of Flowserve worth $13,300,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on FLS shares. Stifel Nicolaus raised their price objective on Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Robert W. Baird reduced their price objective on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. TD Cowen raised their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com upgraded Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Finally, Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $64.11.

Flowserve Stock Down 0.3%

Shares of FLS stock opened at $47.75 on Monday. The stock has a 50 day moving average of $46.18 and a 200 day moving average of $54.82. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6.24 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.35 and a beta of 1.21. Flowserve Co. has a twelve month low of $37.34 and a twelve month high of $65.08.

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

Flowserve Announces Dividend

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

Flowserve 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.