Los Angeles Capital Management LLC Buys 29,392 Shares of Flowserve Co. (NYSE:FLS)

Los Angeles Capital Management LLC increased its position in shares of Flowserve Co. (NYSE:FLS) by 29.4% during the 3rd quarter, Holdings Channel reports. The fund owned 129,531 shares of the industrial products company’s stock after buying an additional 29,392 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Flowserve were worth $6,695,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC boosted its position in shares of Flowserve by 185.9% during 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. V Square Quantitative Management LLC acquired a new position in Flowserve in the third quarter valued at about $27,000. nVerses Capital LLC bought a new stake in shares of Flowserve in the second quarter worth about $34,000. Allworth Financial LP raised its position in shares of Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 616 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FLS. Mizuho increased their target price on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Stifel Nicolaus increased their target price on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America upped their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and an average price target of $60.10.

Flowserve Trading Up 2.1 %

Shares of Flowserve stock opened at $61.15 on Tuesday. The stock has a market cap of $8.03 billion, a P/E ratio of 30.27, a P/E/G ratio of 1.44 and a beta of 1.38. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 12-month low of $37.24 and a 12-month high of $61.60. The business’s 50 day moving average is $51.94 and its 200-day moving average is $49.59.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Equities research analysts predict that Flowserve Co. will post 2.72 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.21 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.37%. Flowserve’s payout ratio is 41.58%.

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.