Wolverine Asset Management LLC Has $879,000 Stock Position in Flowserve Co. (NYSE:FLS)

Wolverine Asset Management LLC lifted its stake in Flowserve Co. (NYSE:FLS) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,000 shares of the industrial products company’s stock after purchasing an additional 1,000 shares during the period. Wolverine Asset Management LLC’s holdings in Flowserve were worth $879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLS. AQR Capital Management LLC increased its position in shares of Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after acquiring an additional 663,631 shares during the last quarter. Earnest Partners LLC increased its holdings in Flowserve by 4.8% during the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock worth $128,841,000 after buying an additional 121,873 shares during the last quarter. Millennium Management LLC grew its position in shares of Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Flowserve by 3.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock worth $123,112,000 after purchasing an additional 83,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Flowserve by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock valued at $108,191,000 after purchasing an additional 169,506 shares during the period. 93.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America increased their price target on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Mizuho raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird increased their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.10.

Flowserve Price Performance

Shares of NYSE FLS opened at $60.43 on Wednesday. Flowserve Co. has a fifty-two week low of $37.24 and a fifty-two week high of $61.60. The business has a fifty day moving average price of $52.20 and a two-hundred day moving average price of $49.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The stock has a market capitalization of $7.94 billion, a PE ratio of 29.92, a P/E/G ratio of 1.44 and a beta of 1.38.

Flowserve (NYSE:FLS) last posted 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). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.50 EPS. Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Flowserve Co. will post 2.72 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.39%. Flowserve’s dividend payout ratio is presently 41.58%.

About Flowserve

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.