Inceptionr LLC Invests $1.21 Million in Flowserve Co. (NYSE:FLS)

Inceptionr LLC purchased a new stake in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,979 shares of the industrial products company's stock, valued at approximately $1,207,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FLS. Point72 Asset Management L.P. boosted its holdings in shares of Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company's stock valued at $47,207,000 after acquiring an additional 606,416 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after purchasing an additional 422,141 shares during the period. Raymond James Financial Inc. acquired a new stake in Flowserve in the fourth quarter worth about $14,546,000. Vaughan Nelson Investment Management L.P. lifted its holdings in Flowserve by 66.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company's stock worth $31,930,000 after purchasing an additional 220,805 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Flowserve by 28.5% in the fourth quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company's stock worth $42,876,000 after purchasing an additional 165,449 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

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Flowserve Price Performance

NYSE FLS traded down $0.35 on Friday, reaching $48.44. The company's stock had a trading volume of 2,926,795 shares, compared to its average volume of 1,136,750. Flowserve Co. has a twelve month low of $43.00 and a twelve month high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a market cap of $6.38 billion, a PE ratio of 22.63, a PEG ratio of 1.35 and a beta of 1.43. The firm's 50 day moving average is $59.35 and its two-hundred day moving average is $56.34.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data 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 net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.21 billion. As a group, sell-side analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's dividend payout ratio is presently 39.25%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. TD Cowen upped their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Royal Bank of Canada reduced their price objective on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Robert W. Baird upped their price objective on shares of Flowserve from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Finally, Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Flowserve has an average rating of "Moderate Buy" and an average target price of $68.60.

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.