Flowserve Target of Unusually High Options Trading (FLS)

Flowserve Corp (NYSE:FLS) saw some unusual options trading activity on Thursday. Traders purchased 1,019 put options on the company. This represents an increase of approximately 1,190% compared to the typical daily volume of 79 put options.

A number of analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Flowserve in a research note on Friday. They set a “neutral” rating and a $55.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Flowserve from $47.00 to $52.00 and gave the company a “hold” rating in a research note on Monday, October 8th. Northcoast Research upgraded shares of Flowserve from a “neutral” rating to a “buy” rating in a research note on Thursday, September 13th. Zacks Investment Research upgraded shares of Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, September 11th. Finally, Morgan Stanley assumed coverage on shares of Flowserve in a research note on Monday, August 20th. They set an “equal weight” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Flowserve presently has an average rating of “Hold” and an average price target of $49.23.

FLS opened at $50.04 on Friday. The company has a market cap of $7.16 billion, a PE ratio of 36.79, a PEG ratio of 1.87 and a beta of 1.53. Flowserve has a 52-week low of $37.71 and a 52-week high of $56.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.61 and a current ratio of 2.25.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. Flowserve had a negative net margin of 0.79% and a positive return on equity of 10.52%. The business had revenue of $973.13 million during the quarter, compared to the consensus estimate of $923.89 million. During the same quarter last year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts predict that Flowserve will post 1.7 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 21st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, September 20th. Flowserve’s payout ratio is currently 55.88%.

Several hedge funds have recently added to or reduced their stakes in FLS. Wells Fargo & Company MN grew its position in shares of Flowserve by 29.2% during the first quarter. Wells Fargo & Company MN now owns 145,130 shares of the industrial products company’s stock worth $6,288,000 after buying an additional 32,763 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Flowserve by 11.8% during the first quarter. JPMorgan Chase & Co. now owns 325,121 shares of the industrial products company’s stock worth $14,089,000 after buying an additional 34,203 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Flowserve by 8.3% during the first quarter. California Public Employees Retirement System now owns 314,475 shares of the industrial products company’s stock worth $13,626,000 after buying an additional 24,040 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Flowserve by 26.5% during the first quarter. Dimensional Fund Advisors LP now owns 958,608 shares of the industrial products company’s stock worth $41,536,000 after buying an additional 200,612 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Flowserve by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 17,763 shares of the industrial products company’s stock worth $770,000 after buying an additional 1,341 shares in the last quarter.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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