Nomura Holdings Inc. Invests $1 Million in Flowserve Co. (NYSE:FLS)

Nomura Holdings Inc. acquired a new position in shares of Flowserve Co. (NYSE:FLS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,432 shares of the industrial products company’s stock, valued at approximately $1,003,000.

A number of other hedge funds also recently made changes to their positions in FLS. FIL Ltd lifted its holdings in shares of Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock worth $302,271,000 after acquiring an additional 2,193,904 shares during the last quarter. Norges Bank bought a new stake in shares of Flowserve during the 4th quarter worth $94,629,000. Driehaus Capital Management LLC lifted its holdings in shares of Flowserve by 307.1% during the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company’s stock worth $108,651,000 after acquiring an additional 1,424,948 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Flowserve by 52.7% during the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company’s stock worth $118,953,000 after acquiring an additional 714,063 shares during the last quarter. Finally, Varenne Capital Partners bought a new stake in shares of Flowserve during the 4th quarter worth $26,216,000. 93.93% of the stock is owned by institutional investors.

Flowserve Price Performance

Shares of FLS stock opened at $51.60 on Monday. The firm has a market cap of $6.75 billion, a P/E ratio of 24.11, a P/E/G ratio of 1.35 and a beta of 1.21. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The business’s 50 day moving average price is $46.50 and its 200-day moving average price is $54.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

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

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Friday, March 28th. Flowserve’s dividend payout ratio is currently 39.25%.

Analysts Set New Price Targets

FLS has been the subject of a number of research analyst reports. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. StockNews.com raised shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Citigroup lowered their price target on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Robert W. Baird lowered their price target on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Finally, Royal Bank of Canada boosted 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. One equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $64.11.

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.