Dynamic Technology Lab Private Ltd Takes $323,000 Position in Flowserve Co. (NYSE:FLS)

Dynamic Technology Lab Private Ltd bought a new position in Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,615 shares of the industrial products company's stock, valued at approximately $323,000.

A number of other large investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its stake in Flowserve by 10.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,832,204 shares of the industrial products company's stock worth $105,388,000 after purchasing an additional 167,379 shares in the last quarter. Trexquant Investment LP lifted its position in Flowserve by 168.9% during the 4th quarter. Trexquant Investment LP now owns 262,690 shares of the industrial products company's stock worth $15,110,000 after buying an additional 165,008 shares in the last quarter. Headlands Technologies LLC grew its holdings in Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after acquiring an additional 479 shares during the last quarter. Diametric Capital LP increased its position in Flowserve by 37.8% in the 4th quarter. Diametric Capital LP now owns 10,429 shares of the industrial products company's stock valued at $600,000 after acquiring an additional 2,861 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Flowserve by 6.4% during the fourth quarter. National Bank of Canada FI now owns 6,737 shares of the industrial products company's stock worth $388,000 after purchasing an additional 407 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

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Flowserve Trading Up 2.5 %

FLS traded up $1.06 during mid-day trading on Tuesday, hitting $43.56. The stock had a trading volume of 361,582 shares, compared to its average volume of 1,239,686. The stock's fifty day simple moving average is $51.52 and its 200-day simple moving average is $56.02. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. 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 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, research analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, March 28th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FLS shares. Robert W. Baird raised shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target for the company in a report on Monday, March 17th. Royal Bank of Canada lowered their target price on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Citigroup cut their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.30.

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.