Sherbrooke Park Advisers LLC Purchases New Stake in Flowserve Co. (NYSE:FLS)

Sherbrooke Park Advisers LLC purchased a new stake in Flowserve Co. (NYSE:FLS) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 25,741 shares of the industrial products company’s stock, valued at approximately $1,481,000. Flowserve accounts for about 0.5% of Sherbrooke Park Advisers LLC’s investment portfolio, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FLS. Headlands Technologies LLC increased its holdings 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 valued at $28,000 after purchasing an additional 479 shares during the last quarter. Colonial Trust Co SC grew its position in 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 acquiring an additional 478 shares during the period. UMB Bank n.a. grew its position in 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 acquiring an additional 278 shares during the period. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 595 shares during the period. Finally, Quadrant Capital Group LLC grew its position in Flowserve by 34.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 1.8%

FLS opened at $51.17 on Friday. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $65.08. The business has a fifty day simple moving average of $46.41 and a 200-day simple moving average of $54.76. The firm has a market cap of $6.69 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.35 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, March 28th. Flowserve’s dividend payout ratio is presently 39.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com upgraded Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Stifel Nicolaus increased their price objective on Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Mizuho increased their price objective on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird lowered their price objective on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Finally, Royal Bank of Canada increased their price objective on Flowserve from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $64.11.

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.