GAMMA Investing LLC Increases Stake in Flowserve Corporation (NYSE:FLS)

GAMMA Investing LLC grew its position in Flowserve Corporation (NYSE:FLS) by 26.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,288 shares of the industrial products company’s stock after acquiring an additional 481 shares during the quarter. GAMMA Investing LLC’s holdings in Flowserve were worth $112,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC raised its stake in shares of Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 479 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of Flowserve in the fourth quarter valued at $33,000. Colonial Trust Co SC raised its stake in shares of Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 478 shares during the period. True Wealth Design LLC raised its stake in shares of Flowserve by 80.1% in the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 394 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 595 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 2.4%

NYSE FLS opened at $55.29 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The company’s 50-day simple moving average is $49.11 and its two-hundred day simple moving average is $52.23. Flowserve Corporation has a one year low of $37.34 and a one year high of $65.08.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. Equities analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FLS shares. Citigroup reduced their target price 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. Royal Bank Of Canada increased their target price on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. Robert W. Baird reduced their price target on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Finally, Mizuho set a $60.00 price target on shares of Flowserve in a research note on Friday, May 16th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $63.00.

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.