Flowserve Co. (NYSE:FLS) Shares Bought by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. boosted its stake in shares of Flowserve Co. (NYSE:FLS) by 14.9% during the 3rd quarter, Holdings Channel reports. The firm owned 19,382 shares of the industrial products company’s stock after acquiring an additional 2,520 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Flowserve were worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. RBA Wealth Management LLC acquired a new stake in Flowserve in the 1st quarter worth about $3,112,000. Susquehanna Fundamental Investments LLC purchased a new position in Flowserve in the first quarter valued at $3,808,000. Hennessy Advisors Inc. raised its position in Flowserve by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 617,900 shares of the industrial products company’s stock valued at $28,226,000 after purchasing an additional 76,400 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Flowserve by 541.1% during the first quarter. National Bank of Canada FI now owns 415,732 shares of the industrial products company’s stock worth $20,616,000 after buying an additional 350,889 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Flowserve in the first quarter valued at approximately $874,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America reissued a “buy” rating and issued a $60.00 target price on shares of Flowserve in a report on Tuesday, September 24th. Royal Bank of Canada lifted their target price on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Jefferies Financial Group assumed coverage on shares of Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 target price for the company. Stifel Nicolaus increased their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.50.

Flowserve Trading Down 1.0 %

NYSE FLS opened at $53.00 on Thursday. Flowserve Co. has a one year low of $35.31 and a one year high of $55.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The company has a 50-day simple moving average of $50.15 and a 200-day simple moving average of $48.77. The firm has a market capitalization of $6.98 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. Flowserve’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. On average, equities analysts forecast that Flowserve Co. will post 2.76 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

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.