Virtu Financial LLC Invests $227,000 in Flowserve Co. (NYSE:FLS)

Virtu Financial LLC bought a new stake in Flowserve Co. (NYSE:FLS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,392 shares of the industrial products company’s stock, valued at approximately $227,000.

A number of other institutional investors have also recently bought and sold shares of FLS. Millennium Management LLC boosted its holdings in shares of Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after buying an additional 663,631 shares during the period. Point72 Asset Management L.P. boosted its holdings in Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after acquiring an additional 606,416 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in Flowserve during the second quarter valued at about $23,911,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after acquiring an additional 422,141 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Mizuho lifted their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group began coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 price objective for the company. Bank of America lifted their target price on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and increased their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.40.

Flowserve Stock Performance

Shares of FLS stock opened at $57.45 on Thursday. The company’s fifty day moving average price is $57.90 and its two-hundred day moving average price is $51.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The firm has a market capitalization of $7.55 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.48 and a beta of 1.41. Flowserve Co. has a 12 month low of $39.21 and a 12 month high of $62.32.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. Flowserve’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. On average, research analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.84 annualized dividend and a yield of 1.46%. Flowserve’s dividend payout ratio is presently 41.58%.

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.