Flowserve Co. (NYSE:FLS) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its position in shares of Flowserve Co. (NYSE:FLS) by 35.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,686 shares of the industrial products company’s stock after purchasing an additional 4,670 shares during the quarter. Sanctuary Advisors LLC’s holdings in Flowserve were worth $914,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after buying an additional 37,132 shares in the last quarter. Millennium Management LLC boosted its position in shares of Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares in the last quarter. Stifel Financial Corp lifted its stake in Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after purchasing an additional 29,979 shares during the last quarter. Vestcor Inc bought a new stake in Flowserve during the third quarter worth approximately $714,000. Finally, Interval Partners LP grew its position in Flowserve by 60.1% in the second quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock worth $44,593,000 after buying an additional 348,107 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLS. Citigroup raised their price objective on Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Mizuho upped their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Bank of America upped their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.40.

Flowserve Trading Down 0.2 %

Flowserve stock opened at $58.06 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 12 month low of $39.21 and a 12 month high of $62.32. The company’s fifty day simple moving average is $58.11 and its 200-day simple moving average is $51.96. The stock has a market cap of $7.63 billion, a P/E ratio of 28.74, a P/E/G ratio of 1.48 and a beta of 1.41.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share. As a group, sell-side analysts forecast that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, December 27th. Flowserve’s payout ratio is 41.58%.

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.