Flowserve Co. (NYSE:FLS) Short Interest Down 10.1% in August

Flowserve Co. (NYSE:FLS - Get Free Report) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 1,700,000 shares, a drop of 10.1% from the July 31st total of 1,890,000 shares. Based on an average daily volume of 935,600 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of analyst reports. TD Cowen upped their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Bank of America raised their target price on Flowserve from $57.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Robert W. Baird upped their price target on Flowserve from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on Flowserve from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Flowserve currently has an average rating of "Moderate Buy" and an average target price of $56.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC raised its holdings in Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 370 shares during the period. nVerses Capital LLC bought a new stake in shares of Flowserve during the 2nd quarter valued at $34,000. YHB Investment Advisors Inc. purchased a new stake in Flowserve during the 1st quarter worth about $36,000. GAMMA Investing LLC boosted its stake in Flowserve by 166.0% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company's stock worth $47,000 after purchasing an additional 616 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company's stock valued at $45,000 after buying an additional 596 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Stock Performance

Shares of NYSE FLS traded up $0.40 during mid-day trading on Friday, reaching $49.88. 927,875 shares of the company's stock were exchanged, compared to its average volume of 759,563. The firm has a 50-day moving average price of $48.17 and a two-hundred day moving average price of $47.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 1.19 and a beta of 1.42. Flowserve has a 52 week low of $35.31 and a 52 week high of $52.09.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. Analysts predict that Flowserve will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.68%. Flowserve's dividend payout ratio is presently 47.46%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.