Point72 Asia Singapore Pte. Ltd. Buys Shares of 1,445 Flowserve Co. (NYSE:FLS)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Flowserve Co. (NYSE:FLS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,445 shares of the industrial products company’s stock, valued at approximately $70,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC raised its stake in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Flowserve during the 2nd quarter valued at $34,000. YHB Investment Advisors Inc. acquired a new position in Flowserve in the first quarter valued at about $36,000. Raleigh Capital Management Inc. raised its position in shares of Flowserve by 122.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 596 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 616 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FLS shares. Royal Bank of Canada raised their price objective on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Bank of America reaffirmed a “buy” rating and set a $60.00 price target on shares of Flowserve in a research report on Tuesday, September 24th. Stifel Nicolaus raised their price objective on Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen raised their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird boosted their price target on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.88.

Flowserve Trading Down 2.2 %

Shares of Flowserve stock opened at $51.37 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.16 and a beta of 1.39. The firm’s 50-day moving average price is $48.06 and its two-hundred day moving average price is $47.78. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $53.86.

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

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.64%. 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.