Capstone Investment Advisors LLC Acquires Shares of 102,115 Flowserve Co. (NYSE:FLS)

Capstone Investment Advisors LLC acquired a new position in Flowserve Co. (NYSE:FLS) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 102,115 shares of the industrial products company’s stock, valued at approximately $5,874,000.

Several other hedge funds have also modified their holdings of the company. New York Life Investment Management LLC purchased a new position in Flowserve during the fourth quarter worth approximately $800,000. American Century Companies Inc. lifted its position in shares of Flowserve by 25.9% during the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock valued at $6,384,000 after buying an additional 22,850 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Flowserve in the 4th quarter valued at $422,000. Commonwealth Equity Services LLC grew its stake in Flowserve by 103.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company’s stock valued at $1,197,000 after acquiring an additional 10,557 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Flowserve by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 290 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Robert W. Baird decreased their price objective on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday. Citigroup decreased their price target on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Mizuho raised their target price on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, StockNews.com upgraded Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $64.11.

Flowserve Stock Performance

Shares of Flowserve stock opened at $47.54 on Monday. The business’s 50 day moving average price is $46.80 and its 200 day moving average price is $55.04. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. Flowserve’s dividend payout ratio (DPR) is 39.25%.

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.