AlphaQuest LLC Acquires 13,443 Shares of Flowserve Co. (NYSE:FLS)

AlphaQuest LLC increased its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 86.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,003 shares of the industrial products company's stock after acquiring an additional 13,443 shares during the period. AlphaQuest LLC's holdings in Flowserve were worth $1,668,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Edgestream Partners L.P. grew its holdings in shares of Flowserve by 35.3% in the fourth quarter. Edgestream Partners L.P. now owns 10,384 shares of the industrial products company's stock valued at $597,000 after acquiring an additional 2,712 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Flowserve in the fourth quarter valued at approximately $301,000. Inceptionr LLC purchased a new position in Flowserve in the fourth quarter valued at approximately $1,207,000. Raymond James Financial Inc. purchased a new position in Flowserve in the fourth quarter valued at approximately $14,546,000. Finally, Arizona State Retirement System lifted its stake in Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock valued at $2,193,000 after purchasing an additional 225 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Stifel Nicolaus upped their price objective on Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Royal Bank of Canada dropped their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Mizuho upped their price objective on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and upped their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $68.60.

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Flowserve Trading Down 0.7 %

NYSE:FLS opened at $48.44 on Friday. The company has a market cap of $6.38 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 1 year low of $43.00 and a 1 year high of $65.08. The stock's fifty day moving average price is $59.35 and its two-hundred day moving average price is $56.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, analysts expect that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.73%. Flowserve's payout ratio is currently 39.25%.

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.

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