Susquehanna Fundamental Investments LLC Buys Shares of 83,370 Flowserve Co. (NYSE:FLS)

Susquehanna Fundamental Investments LLC bought a new stake in Flowserve Co. (NYSE:FLS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 83,370 shares of the industrial products company’s stock, valued at approximately $3,808,000. Susquehanna Fundamental Investments LLC owned 0.06% of Flowserve at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Sciencast Management LP grew its position in shares of Flowserve by 32.4% in the first quarter. Sciencast Management LP now owns 10,225 shares of the industrial products company’s stock valued at $467,000 after purchasing an additional 2,504 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Flowserve by 55.1% in the first quarter. Quantbot Technologies LP now owns 55,764 shares of the industrial products company’s stock valued at $2,547,000 after purchasing an additional 19,804 shares in the last quarter. Texas Permanent School Fund Corp grew its position in shares of Flowserve by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 114,833 shares of the industrial products company’s stock valued at $5,246,000 after purchasing an additional 1,487 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Flowserve in the first quarter valued at $874,000. Finally, Chase Investment Counsel Corp grew its position in Flowserve by 58.0% during the first quarter. Chase Investment Counsel Corp now owns 105,147 shares of the industrial products company’s stock worth $4,803,000 after buying an additional 38,586 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the sale, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Flowserve Stock Up 2.9 %

Shares of FLS traded up $1.38 on Monday, reaching $49.75. The stock had a trading volume of 202,385 shares, compared to its average volume of 1,054,976. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88. The company has a 50-day simple moving average of $48.33 and a 200-day simple moving average of $45.13. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $50.49.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Sell-side analysts predict that Flowserve Co. will post 2.66 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Friday, June 28th. Flowserve’s payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FLS shares. Robert W. Baird boosted their target price on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. UBS Group boosted their target price on Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Mizuho reiterated a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. Citigroup upped their price objective on Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.55.

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.