Lighthouse Investment Partners LLC Purchases 289,124 Shares of Flowserve Co. (NYSE:FLS)

Lighthouse Investment Partners LLC increased its position in shares of Flowserve Co. (NYSE:FLS) by 200.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433,264 shares of the industrial products company’s stock after purchasing an additional 289,124 shares during the period. Flowserve accounts for 0.8% of Lighthouse Investment Partners LLC’s portfolio, making the stock its 17th largest holding. Lighthouse Investment Partners LLC owned 0.33% of Flowserve worth $24,921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System grew its stake in shares of Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock worth $2,193,000 after buying an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of Flowserve by 0.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock worth $1,527,000 after buying an additional 236 shares in the last quarter. Savant Capital LLC grew its stake in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after buying an additional 251 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Flowserve by 34.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock worth $62,000 after buying an additional 275 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after buying an additional 278 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

Flowserve stock opened at $47.75 on Monday. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08. The firm has a 50-day moving average of $46.18 and a two-hundred day moving average of $54.82.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. Flowserve’s dividend payout ratio is currently 39.25%.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLS. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Royal Bank of Canada lifted their price target on shares of Flowserve from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. StockNews.com raised shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. TD Cowen lifted their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Stifel Nicolaus lifted their price target on shares of Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $64.11.

About Flowserve

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.