AlphaQuest LLC Boosts Stock Holdings in Flowserve Corporation $FLS

AlphaQuest LLC increased its position in Flowserve Corporation (NYSE:FLS) by 188.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,416 shares of the industrial products company’s stock after buying an additional 22,490 shares during the quarter. AlphaQuest LLC’s holdings in Flowserve were worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Flowserve

In other Flowserve news, insider Susan Claire Hudson sold 10,667 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the sale, the insider directly owned 6,589 shares in the company, valued at approximately $461,295.89. The trade was a 61.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the sale, the insider directly owned 15,116 shares of the company’s stock, valued at $1,050,713.16. The trade was a 9.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 59,276 shares of company stock valued at $4,196,578. Corporate insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLS. Royal Bank Of Canada restated an “outperform” rating and set a $83.00 price objective on shares of Flowserve in a research note on Thursday, January 15th. Citigroup increased their price objective on shares of Flowserve from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Flowserve in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.90.

Flowserve Stock Performance

Shares of FLS opened at $77.99 on Friday. The firm has a market capitalization of $9.91 billion, a PE ratio of 22.67, a P/E/G ratio of 1.40 and a beta of 1.29. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $72.87 and a 200 day moving average price of $62.21. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $78.84.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the business posted $0.62 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were given a dividend of $0.21 per share. The ex-dividend date was Friday, December 26th. This represents a $0.84 annualized dividend and a dividend yield of 1.1%. Flowserve’s dividend payout ratio (DPR) is 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.