Flowserve Corporation $FLS Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its holdings in shares of Flowserve Corporation (NYSE:FLS) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,874 shares of the industrial products company’s stock after purchasing an additional 6,539 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Flowserve were worth $2,491,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FLS. Janney Montgomery Scott LLC increased its holdings in shares of Flowserve by 4.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 36,039 shares of the industrial products company’s stock valued at $1,887,000 after purchasing an additional 1,667 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Flowserve by 67.1% in the third quarter. D.A. Davidson & CO. now owns 34,914 shares of the industrial products company’s stock worth $1,855,000 after acquiring an additional 14,025 shares in the last quarter. Paradice Investment Management LLC purchased a new stake in shares of Flowserve during the 3rd quarter valued at about $17,970,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Flowserve by 104.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock worth $230,281,000 after acquiring an additional 2,213,406 shares in the last quarter. Finally, Brian Low Financial Group LLC acquired a new position in Flowserve in the third quarter worth $1,007,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Amy B. Schwetz sold 47,000 shares of Flowserve stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the transaction, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at $3,737,640.56. This trade represents a 47.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the sale, the insider owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. This represents a 61.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 59,276 shares of company stock worth $4,196,578. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FLS shares. Stifel Nicolaus upped their price target on shares of Flowserve from $84.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research report on Thursday, January 22nd. Mizuho lifted their price target on Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Wall Street Zen downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $73.00 target price (up previously from $60.00) on shares of Flowserve in a report on Friday, November 14th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.90.

Flowserve Price Performance

Shares of NYSE:FLS traded down $1.08 during midday trading on Wednesday, reaching $76.52. The company’s stock had a trading volume of 29,430 shares, compared to its average volume of 1,146,230. The business’s fifty day simple moving average is $72.22 and its 200-day simple moving average is $61.81. The company has a market capitalization of $9.73 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.54. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $78.84.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. As a group, equities research analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $0.84 annualized dividend and a yield of 1.1%. Flowserve’s dividend payout ratio is presently 24.42%.

About Flowserve

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.