Veracity Capital LLC Purchases 2,736 Shares of Flowserve Co. (NYSE:FLS)

Veracity Capital LLC lifted its position in shares of Flowserve Co. (NYSE:FLS) by 24.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,043 shares of the industrial products company’s stock after acquiring an additional 2,736 shares during the quarter. Veracity Capital LLC’s holdings in Flowserve were worth $808,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC acquired a new stake in Flowserve during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Flowserve during the third quarter worth $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve during the third quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in Flowserve in the third quarter valued at about $29,000. Finally, Allworth Financial LP boosted its holdings in Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Down 0.0 %

FLS stock opened at $64.26 on Friday. 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 $8.44 billion, a P/E ratio of 31.81, a P/E/G ratio of 1.32 and a beta of 1.42. Flowserve Co. has a fifty-two week low of $39.69 and a fifty-two week high of $65.08. The business has a 50-day moving average of $60.07 and a 200-day moving average of $53.87.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share 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 firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned $0.50 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Flowserve Co. will post 2.7 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.31%. Flowserve’s dividend payout ratio is 41.58%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Mizuho increased their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen boosted their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, Stifel Nicolaus boosted 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.10.

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.