Jade Capital Advisors LLC Has $1.05 Million Stock Holdings in Flowserve Co. (NYSE:FLS)

Jade Capital Advisors LLC reduced its stake in Flowserve Co. (NYSE:FLS - Free Report) by 33.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,264 shares of the industrial products company's stock after selling 10,000 shares during the quarter. Jade Capital Advisors LLC's holdings in Flowserve were worth $1,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLS. Allspring Global Investments Holdings LLC increased its position in Flowserve by 51.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,816 shares of the industrial products company's stock worth $559,000 after buying an additional 3,675 shares during the period. New Century Financial Group LLC bought a new position in Flowserve in the 3rd quarter worth approximately $1,185,000. Raymond James & Associates increased its position in Flowserve by 4.3% in the 3rd quarter. Raymond James & Associates now owns 321,277 shares of the industrial products company's stock worth $16,607,000 after buying an additional 13,258 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Flowserve during the third quarter valued at approximately $27,000. Finally, nVerses Capital LLC increased its position in shares of Flowserve by 1,142.9% during the third quarter. nVerses Capital LLC now owns 8,700 shares of the industrial products company's stock valued at $450,000 after purchasing an additional 8,000 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com cut Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th. Robert W. Baird boosted their price objective on Flowserve from $57.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Bank of America reiterated a "buy" rating and issued a $60.00 price target on shares of Flowserve in a research report on Tuesday, September 24th. Stifel Nicolaus upped their price target on Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price objective on Flowserve from $46.00 to $52.00 and gave the stock 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $58.50.

Flowserve Trading Down 0.7 %

Shares of FLS traded down $0.40 during trading hours on Tuesday, hitting $53.52. 1,076,589 shares of the stock traded hands, compared to its average volume of 1,071,974. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. Flowserve Co. has a 1-year low of $35.31 and a 1-year high of $55.90. The firm has a market capitalization of $7.05 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The business has a fifty day moving average of $49.88 and a 200-day moving average of $48.70.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. Flowserve's dividend payout ratio (DPR) is currently 47.46%.

About Flowserve

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.