Flowserve Co. (NYSE:FLS) Shares Bought by Trexquant Investment LP

Trexquant Investment LP lifted its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 168.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,690 shares of the industrial products company's stock after acquiring an additional 165,008 shares during the quarter. Trexquant Investment LP owned 0.20% of Flowserve worth $15,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Flowserve by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock valued at $775,209,000 after purchasing an additional 101,668 shares during the last quarter. State Street Corp lifted its position 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 acquiring an additional 37,132 shares during the last quarter. Geode Capital Management LLC boosted its stake in Flowserve by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company's stock valued at $113,851,000 after acquiring an additional 23,529 shares in the last quarter. Norges Bank purchased a new position in shares of Flowserve during the fourth quarter worth about $94,629,000. Finally, Point72 Asset Management L.P. increased its position in shares of Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company's stock worth $47,207,000 after purchasing an additional 606,416 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FLS. Robert W. Baird upgraded Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective for the company in a research note on Monday, March 17th. Royal Bank of Canada decreased their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. TD Cowen upped their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and raised their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, Stifel Nicolaus raised their price target on Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.60.

Flowserve Price Performance

Shares of Flowserve stock traded down $3.53 on Friday, hitting $40.07. The company's stock had a trading volume of 2,817,652 shares, compared to its average volume of 1,219,284. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $54.75 and a 200-day moving average price of $56.48. Flowserve Co. has a 52-week low of $38.23 and a 52-week high of $65.08. The company has a market capitalization of $5.28 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.21 billion. On average, equities research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, March 28th. Flowserve's dividend payout ratio (DPR) is 39.25%.

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.