Flowserve Co. (NYSE:FLS) Stock Holdings Lowered by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda cut its position in Flowserve Co. (NYSE:FLS) by 55.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,771 shares of the industrial products company’s stock after selling 5,919 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Flowserve were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. nVerses Capital LLC bought a new position in Flowserve in the 2nd quarter valued at about $34,000. GAMMA Investing LLC increased its stake in Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after buying an additional 616 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Flowserve during the 2nd quarter worth about $70,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Flowserve in the 1st quarter worth approximately $87,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLS has been the subject of a number of research reports. Robert W. Baird increased their price target on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised their target price on Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen lifted their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group increased their target price on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.44.

Flowserve Price Performance

NYSE FLS opened at $54.89 on Thursday. The company has a 50 day simple moving average of $49.14 and a 200-day simple moving average of $48.48. Flowserve Co. has a 52-week low of $35.31 and a 52-week high of $55.37. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40.

Flowserve (NYSE:FLS) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts predict that Flowserve Co. will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.53%. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

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.