Oak Thistle LLC Makes New Investment in Flowserve Co. (NYSE:FLS)

Oak Thistle LLC purchased a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,437 shares of the industrial products company's stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLS. State Street Corp grew its stake in shares of 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 acquiring an additional 37,132 shares in the last quarter. Stifel Financial Corp grew its stake in Flowserve by 14.0% during the 3rd 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 in the last quarter. Vestcor Inc acquired a new position in shares of Flowserve in the 3rd quarter valued at approximately $714,000. Millennium Management LLC boosted its stake 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 buying an additional 1,596,429 shares during the last quarter. Finally, Interval Partners LP increased its stake in shares of 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. Institutional investors and hedge funds own 93.93% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FLS shares. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 27th. Royal Bank of Canada upgraded Flowserve from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. TD Cowen lifted their target price on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Stifel Nicolaus raised their price objective on Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.10.

Flowserve Price Performance

Shares of NYSE:FLS traded up $0.86 during trading on Friday, reaching $63.61. The company had a trading volume of 1,052,305 shares, compared to its average volume of 972,567. Flowserve Co. has a twelve month low of $39.69 and a twelve month high of $63.86. The firm has a market capitalization of $8.36 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42. The firm's fifty day moving average is $59.85 and its 200 day moving average is $53.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $0.50 EPS. The firm's quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Flowserve Co. will post 2.71 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve's payout ratio is 41.58%.

Flowserve 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.