Oak Thistle LLC Takes Position in Flowserve Co. (NYSE:FLS)

Oak Thistle LLC acquired a new position in Flowserve Co. (NYSE:FLS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,437 shares of the industrial products company’s stock, valued at approximately $313,000.

Several other large investors have also recently added to or reduced their stakes in FLS. State Street Corp increased its stake in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after acquiring an additional 37,132 shares during the period. AQR Capital Management LLC increased its position in shares of Flowserve by 31.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after purchasing an additional 663,631 shares during the period. Earnest Partners LLC lifted its holdings in shares of Flowserve by 4.8% in the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after buying an additional 121,873 shares during the period. Millennium Management LLC boosted its stake in Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after buying an additional 1,596,429 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Flowserve by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after acquiring an additional 44,039 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Mizuho upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus lifted their target price on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Bank of America boosted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird increased their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.10.

Flowserve Trading Up 1.4 %

Shares of NYSE:FLS opened at $63.61 on Friday. Flowserve Co. has a 1 year low of $39.69 and a 1 year high of $63.86. The firm has a fifty day moving average price of $59.85 and a 200 day moving average price of $53.47. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $8.36 billion, a PE ratio of 31.49, a P/E/G ratio of 1.17 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $0.50 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts expect that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, December 27th. 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.