R Squared Ltd Buys Shares of 7,139 Flowserve Co. (NYSE:FLS)

R Squared Ltd acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,139 shares of the industrial products company's stock, valued at approximately $411,000.

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC acquired a new stake in Flowserve during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Flowserve during the third quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Flowserve in the 3rd quarter valued at about $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve in the 3rd quarter valued at about $29,000. Finally, Allworth Financial LP grew its stake in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock worth $34,000 after buying an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

FLS stock traded down $0.30 on Friday, reaching $62.66. 967,486 shares of the company's stock were exchanged, compared to its average volume of 1,156,875. Flowserve Co. has a twelve month low of $39.69 and a twelve month high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $60.42 and a 200-day moving average of $54.55. The firm has a market cap of $8.23 billion, a PE ratio of 31.02, a P/E/G ratio of 1.25 and a beta of 1.42.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. Flowserve's dividend payout ratio is presently 41.58%.

Analyst Ratings Changes

A number of brokerages have weighed in on FLS. Mizuho boosted their price objective on Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Stifel Nicolaus increased their price target on shares of Flowserve from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Citigroup lowered their price objective 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. Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on Flowserve in a research report on Friday, October 18th. They issued a "buy" rating and a $65.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $67.50.

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.