Varenne Capital Partners Makes New $26.22 Million Investment in Flowserve Co. (NYSE:FLS)

Varenne Capital Partners acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 455,777 shares of the industrial products company's stock, valued at approximately $26,216,000. Flowserve makes up approximately 7.7% of Varenne Capital Partners' portfolio, making the stock its 8th largest holding. Varenne Capital Partners owned about 0.35% of Flowserve as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock worth $201,685,000 after purchasing an additional 37,132 shares during the last quarter. Vestcor Inc acquired a new position in Flowserve during the third quarter worth $714,000. Stifel Financial Corp raised its holdings in Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company's stock valued at $12,619,000 after buying an additional 29,979 shares in the last quarter. New York Life Investment Management LLC acquired a new stake in shares of Flowserve in the fourth quarter worth about $800,000. Finally, GAMMA Investing LLC boosted its stake in shares of Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock worth $104,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FLS. Royal Bank of Canada reduced their target price on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Mizuho lifted their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. TD Cowen upped their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $68.60.

Flowserve Stock Performance

Flowserve stock traded down $4.88 during trading hours on Thursday, hitting $44.98. The stock had a trading volume of 721,881 shares, compared to its average volume of 1,482,452. Flowserve Co. has a fifty-two week low of $43.66 and a fifty-two week high of $65.08. The company has a market cap of $5.93 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company has a 50-day moving average of $55.64 and a two-hundred day moving average of $56.55. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's dividend payout ratio is 39.25%.

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.