Regents Gate Capital LLP bought a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 159,640 shares of the industrial products company's stock, valued at approximately $9,182,000. Flowserve accounts for 3.6% of Regents Gate Capital LLP's holdings, making the stock its 10th largest position. Regents Gate Capital LLP owned approximately 0.12% of Flowserve at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings in Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock valued at $201,685,000 after buying an additional 37,132 shares during the period. Vestcor Inc bought a new stake in Flowserve in the third quarter valued at $714,000. Stifel Financial Corp increased its stake in Flowserve by 14.0% in the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company's stock valued at $12,619,000 after purchasing an additional 29,979 shares in the last quarter. Algert Global LLC increased its stake in Flowserve by 130.3% in the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company's stock valued at $5,638,000 after purchasing an additional 61,710 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake 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 valued at $86,055,000 after purchasing an additional 422,141 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.
Flowserve Stock Up 1.1 %
FLS stock traded up $0.67 during trading on Thursday, reaching $62.67. The stock had a trading volume of 1,004,577 shares, compared to its average volume of 1,208,379. Flowserve Co. has a one year low of $41.46 and a one year 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 company's 50 day moving average is $60.67 and its two-hundred day moving average is $55.25. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 1.29 and a beta of 1.42.
Flowserve Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve's payout ratio is 41.58%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on FLS. Jefferies Financial Group began coverage on shares of Flowserve in a research note on Friday, October 18th. They issued a "buy" rating and a $65.00 price target for the company. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. StockNews.com downgraded shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 27th. Robert W. Baird boosted their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Mizuho boosted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $67.50.
View Our Latest Stock Report on Flowserve
About Flowserve
(
Free Report)
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.
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