Roubaix Capital LLC Takes Position in Flowserve Co. (NYSE:FLS)

Roubaix Capital LLC purchased a new position in Flowserve Co. (NYSE:FLS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 94,004 shares of the industrial products company's stock, valued at approximately $4,859,000. Flowserve comprises about 2.7% of Roubaix Capital LLC's holdings, making the stock its 10th biggest position. Roubaix Capital LLC owned approximately 0.07% of Flowserve as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of FLS. Susquehanna Fundamental Investments LLC acquired a new position in Flowserve during the 1st quarter worth $3,808,000. National Bank of Canada FI raised its position in shares of Flowserve by 541.1% during the 1st quarter. National Bank of Canada FI now owns 415,732 shares of the industrial products company's stock worth $20,616,000 after buying an additional 350,889 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Flowserve in the 1st quarter worth approximately $874,000. Quantbot Technologies LP boosted its holdings in shares of Flowserve by 55.1% in the first quarter. Quantbot Technologies LP now owns 55,764 shares of the industrial products company's stock valued at $2,547,000 after acquiring an additional 19,804 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company's stock valued at $126,259,000 after acquiring an additional 1,596,429 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Down 2.1 %

Shares of FLS traded down $1.12 during midday trading on Thursday, reaching $52.64. 1,250,796 shares of the stock were exchanged, compared to its average volume of 1,090,383. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 1.27 and a beta of 1.39. The firm has a 50 day simple moving average of $50.72 and a 200-day simple moving average of $48.98. Flowserve Co. has a 12-month low of $35.80 and a 12-month high of $55.90.

Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. Flowserve's revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. Research analysts forecast that Flowserve Co. will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve's dividend payout ratio (DPR) is presently 47.46%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on Flowserve from $46.00 to $52.00 and gave the company a "sell" rating in a report on Thursday, October 10th. Jefferies Financial Group started coverage on Flowserve in a report on Friday, October 18th. They set a "buy" rating and a $65.00 target price on the stock. TD Cowen lifted their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.10.

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.