Los Angeles Capital Management LLC Boosts Stake in Flowserve Co. (NYSE:FLS)

Los Angeles Capital Management LLC lifted its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 29.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,531 shares of the industrial products company's stock after purchasing an additional 29,392 shares during the period. Los Angeles Capital Management LLC owned 0.10% of Flowserve worth $6,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Toronto Dominion Bank grew its stake in shares of Flowserve by 0.7% in the 1st quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company's stock valued at $2,127,000 after buying an additional 305 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Flowserve by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company's stock worth $442,000 after buying an additional 318 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Flowserve by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company's stock worth $409,000 after purchasing an additional 342 shares during the period. Signaturefd LLC raised its holdings in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock worth $27,000 after purchasing an additional 370 shares during the period. Finally, Allworth Financial LP raised its holdings in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 403 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FLS. Mizuho boosted their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price objective on shares of Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group raised their target price on shares of Flowserve from $46.00 to $52.00 and gave the company a "sell" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $60.10.

Flowserve Stock Performance

Shares of FLS stock traded down $0.62 during trading hours on Tuesday, hitting $60.53. The company's stock had a trading volume of 339,738 shares, compared to its average volume of 1,099,955. The company has a 50 day moving average of $51.94 and a 200 day moving average of $49.59. The stock has a market cap of $7.95 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.38. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 12-month low of $37.24 and a 12-month high of $61.60.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm's revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. On average, sell-side analysts forecast that Flowserve Co. will post 2.72 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.39%. Flowserve's dividend payout ratio is presently 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.