Xponance Inc. Raises Stock Holdings in Flowserve Co. (NYSE:FLS)

Xponance Inc. boosted its holdings in shares of Flowserve Co. (NYSE:FLS) by 6.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,140 shares of the industrial products company’s stock after purchasing an additional 972 shares during the quarter. Xponance Inc.’s holdings in Flowserve were worth $871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FLS. Point72 Asset Management L.P. raised its holdings in Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after acquiring an additional 606,416 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Flowserve in the 4th quarter worth about $14,546,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Flowserve by 66.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company’s stock valued at $31,930,000 after purchasing an additional 220,805 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Flowserve by 28.5% during the fourth quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company’s stock worth $42,876,000 after purchasing an additional 165,449 shares during the last quarter. Finally, Regents Gate Capital LLP acquired a new position in Flowserve in the fourth quarter worth about $9,182,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Performance

Shares of FLS stock opened at $52.48 on Tuesday. Flowserve Co. has a 12-month low of $43.66 and a 12-month high of $65.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The business has a 50 day simple moving average of $57.41 and a 200 day simple moving average of $56.41.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, equities research analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.60%. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their target price for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a research report on Monday, March 17th. Royal Bank of Canada lowered their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Company 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.