Loomis Sayles & Co. L P Invests $23.61 Million in Flowserve Co. (NYSE:FLS)

Loomis Sayles & Co. L P purchased a new stake in Flowserve Co. (NYSE:FLS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 410,541 shares of the industrial products company’s stock, valued at approximately $23,614,000. Loomis Sayles & Co. L P owned about 0.31% of Flowserve as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC grew its holdings in Flowserve by 71.7% during the 3rd quarter. Cerity Partners LLC now owns 58,587 shares of the industrial products company’s stock worth $3,028,000 after acquiring an additional 24,460 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Flowserve by 89.5% in the third quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 1,700 shares in the last quarter. FMR LLC increased its holdings in Flowserve by 15.6% in the third quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock valued at $46,170,000 after buying an additional 120,396 shares during the last quarter. Quantbot Technologies LP raised its stake in Flowserve by 1,671.2% during the third quarter. Quantbot Technologies LP now owns 42,509 shares of the industrial products company’s stock valued at $2,197,000 after buying an additional 40,109 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Flowserve during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 3.4 %

Shares of FLS stock opened at $48.72 on Friday. Flowserve Co. has a 1 year low of $43.66 and a 1 year high of $65.08. The firm has a market capitalization of $6.42 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The stock has a fifty day moving average of $56.54 and a two-hundred day moving average of $56.40. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, research analysts expect that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FLS shares. Stifel Nicolaus upped their price target on Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Royal Bank of Canada cut their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, TD Cowen upped their target price on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Two analysts have 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 data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

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.