Daiwa Securities Group Inc. Makes New $87,000 Investment in Flowserve Co. (NYSE:FLS)

Daiwa Securities Group Inc. acquired a new position in shares of Flowserve Co. (NYSE:FLS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,900 shares of the industrial products company’s stock, valued at approximately $87,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLS. Contravisory Investment Management Inc. bought a new position in Flowserve during the fourth quarter worth $26,000. YHB Investment Advisors Inc. acquired a new stake in shares of Flowserve during the first quarter worth $36,000. Raleigh Capital Management Inc. lifted its holdings in shares of Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after buying an additional 596 shares in the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of Flowserve by 14,663.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,613 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Flowserve during the fourth quarter worth $178,000. 93.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FLS has been the subject of a number of research reports. Citigroup lifted their target price on Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Robert W. Baird lifted their target price on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com raised Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 12th. Mizuho reaffirmed a “buy” rating and issued a $53.00 price target (up previously from $50.00) on shares of Flowserve in a research note on Wednesday, May 1st. Finally, UBS Group boosted their price target on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.55.

Flowserve Stock Up 0.4 %

Shares of NYSE FLS opened at $48.37 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 1.22 and a beta of 1.42. Flowserve Co. has a 12 month low of $35.31 and a 12 month high of $50.49. The stock has a 50-day moving average price of $48.33 and a two-hundred day moving average price of $45.08.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. As a group, analysts forecast that Flowserve Co. will post 2.66 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, June 28th. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

Insider Transactions at Flowserve

In other news, CEO Robert Scott Rowe sold 42,269 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the sale, the chief executive officer now directly owns 407,243 shares in the company, valued at $20,354,005.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

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.