Shay Capital LLC Takes $621,000 Position in Flowserve Co. (NYSE:FLS)

Shay Capital LLC purchased a new stake in shares of Flowserve Co. (NYSE:FLS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,800 shares of the industrial products company’s stock, valued at approximately $621,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLS. Headlands Technologies LLC grew its stake in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 479 shares during the period. Colonial Trust Co SC lifted its holdings 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 worth $34,000 after buying an additional 478 shares in the last quarter. UMB Bank n.a. boosted its holdings in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 595 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in 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 acquiring an additional 275 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Price Performance

Shares of FLS stock opened at $51.17 on Friday. Flowserve Co. has a twelve month low of $37.34 and a twelve month high of $65.08. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.35 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average is $46.41 and its 200 day moving average is $54.76.

Flowserve (NYSE:FLS) last released its earnings results 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. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.58 earnings per share. Research analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.64%. Flowserve’s dividend payout ratio is currently 39.25%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FLS shares. StockNews.com upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. TD Cowen boosted their target price on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Stifel Nicolaus upped their price objective on shares of Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Robert W. Baird lowered their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target 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.