FNY Investment Advisers LLC Acquires New Position in Flowserve Corporation $FLS

FNY Investment Advisers LLC acquired a new stake in Flowserve Corporation (NYSE:FLS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,534 shares of the industrial products company’s stock, valued at approximately $132,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new stake in Flowserve in the second quarter valued at about $25,000. Hilltop National Bank bought a new position in shares of Flowserve during the second quarter valued at approximately $31,000. IFP Advisors Inc grew its holdings in shares of Flowserve by 1,289.6% during the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 619 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Flowserve by 74.5% during the second quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 344 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Flowserve by 71.5% during the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 429 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Performance

FLS opened at $51.81 on Thursday. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.07 and a beta of 1.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The business has a 50 day moving average price of $53.62 and a two-hundred day moving average price of $50.78.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Flowserve had a return on equity of 18.25% and a net margin of 6.28%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Research analysts predict that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, September 26th. Flowserve’s dividend payout ratio is 38.01%.

Insider Activity at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the sale, the insider directly owned 37,196 shares of the company’s stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

FLS has been the subject of several recent research reports. Citigroup upped their target price on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 14th. Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group upped their target price on Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Buy” and a consensus target price of $65.88.

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.