Beck Bode LLC Purchases Shares of 82,590 Flowserve Co. (NYSE:FLS)

Beck Bode LLC bought a new position in shares of Flowserve Co. (NYSE:FLS) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 82,590 shares of the industrial products company’s stock, valued at approximately $3,404,000. Beck Bode LLC owned approximately 0.06% of Flowserve at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. UBS Group AG grew its stake in shares of Flowserve by 332.7% during the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company’s stock worth $10,725,000 after purchasing an additional 207,346 shares in the last quarter. HighTower Advisors LLC raised its holdings in Flowserve by 4.8% during the third quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company’s stock worth $1,936,000 after purchasing an additional 2,235 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Flowserve in the 4th quarter valued at $6,031,000. Wakefield Asset Management LLLP purchased a new position in shares of Flowserve in the 4th quarter valued at $866,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Flowserve in the fourth quarter valued at $5,970,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada increased their price objective on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Citigroup boosted their price target on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Bank of America raised their price objective on Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of Flowserve from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.22.

Flowserve Trading Down 0.1 %

NYSE FLS traded down $0.05 on Tuesday, hitting $47.17. 2,508,373 shares of the stock were exchanged, compared to its average volume of 1,089,971. The company’s 50-day moving average price is $45.04 and its two-hundred day moving average price is $41.36. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.33 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. Flowserve Co. has a 52-week low of $32.49 and a 52-week high of $49.35.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $0.40 EPS. Flowserve’s quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts predict that Flowserve Co. will post 2.55 EPS for the current year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a $0.21 dividend. This is a boost from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve’s dividend payout ratio (DPR) is 59.57%.

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.