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Short Interest in Flowserve Co. (NYSE:FLS) Expands By 5.8%

Flowserve logo with Industrial Products background

Flowserve Co. (NYSE:FLS - Get Free Report) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,450,000 shares, a growth of 5.8% from the November 15th total of 1,370,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is presently 1.1 days.

Flowserve Stock Up 1.0 %

NYSE FLS traded up $0.63 during trading hours on Monday, hitting $61.25. 3,424,679 shares of the company were exchanged, compared to its average volume of 1,115,985. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.48 and a beta of 1.41. The company has a 50 day moving average of $57.77 and a two-hundred day moving average of $51.68. Flowserve has a 52-week low of $39.21 and a 52-week high of $62.32.

Flowserve (NYSE:FLS - Get Free Report) last released its 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). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm's quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 dividend yield of 1.37%. Flowserve's dividend payout ratio (DPR) is currently 41.58%.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of research analyst reports. Bank of America boosted their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Jefferies Financial Group assumed coverage on Flowserve in a research report on Friday, October 18th. They issued a "buy" rating and a $65.00 target price on the stock. Citigroup upped their price target on Flowserve from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Royal Bank of Canada raised Flowserve from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Finally, Mizuho increased their target price on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and an average target price of $64.40.

View Our Latest Analysis on Flowserve

Hedge Funds Weigh In On Flowserve

A number of institutional investors and hedge funds have recently modified their holdings of the company. KPP Advisory Services LLC lifted its holdings in Flowserve by 3.2% during the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company's stock worth $364,000 after buying an additional 215 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock worth $1,962,000 after acquiring an additional 215 shares in the last quarter. National Bank of Canada FI lifted its stake in Flowserve by 4.1% during the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock worth $327,000 after purchasing an additional 252 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Flowserve by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company's stock valued at $1,330,000 after purchasing an additional 277 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Flowserve by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company's stock valued at $442,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

About Flowserve

(Get Free Report)

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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