Flowserve Co. (NYSE:FLS) Shares Bought by Sciencast Management LP

Sciencast Management LP raised its position in shares of Flowserve Co. (NYSE:FLS) by 32.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,225 shares of the industrial products company’s stock after acquiring an additional 2,504 shares during the quarter. Sciencast Management LP’s holdings in Flowserve were worth $467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moody National Bank Trust Division lifted its holdings in Flowserve by 2.8% in the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 259 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Flowserve by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock valued at $7,526,000 after acquiring an additional 433 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Flowserve by 0.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 52,148 shares of the industrial products company’s stock worth $2,150,000 after purchasing an additional 450 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Flowserve by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 58,004 shares of the industrial products company’s stock worth $2,391,000 after purchasing an additional 560 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its position in shares of Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 596 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

Shares of Flowserve stock traded up $0.19 on Friday, hitting $48.37. The stock had a trading volume of 622,360 shares, compared to its average volume of 880,849. The company’s 50 day moving average price is $48.33 and its 200 day moving average price is $45.08. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 1.24 and a beta of 1.42. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. Flowserve Co. has a 52-week low of $35.31 and a 52-week high of $50.49.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. Flowserve’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, research analysts anticipate that Flowserve Co. will post 2.66 EPS for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, June 28th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Insiders Place Their Bets

In other news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the completion of the transaction, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FLS has been the topic of several recent research reports. UBS Group boosted their price target on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. TD Cowen raised their price target on shares of Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus upped their price objective on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Bank of America lifted their target price on Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird upped their target price on shares of Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.55.

Flowserve 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.