Flowserve Co. (NYSE:FLS) Shares Sold by Jade Capital Advisors LLC

Jade Capital Advisors LLC cut its stake in Flowserve Co. (NYSE:FLS) by 33.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,264 shares of the industrial products company’s stock after selling 10,000 shares during the period. Jade Capital Advisors LLC’s holdings in Flowserve were worth $1,047,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC boosted its position in Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Flowserve in the 3rd quarter valued at about $27,000. nVerses Capital LLC purchased a new position in Flowserve during the 2nd quarter valued at about $34,000. GAMMA Investing LLC increased its holdings in Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 616 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Flowserve during the second quarter worth about $70,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Down 1.1 %

Shares of FLS opened at $53.94 on Tuesday. Flowserve Co. has a fifty-two week low of $35.31 and a fifty-two week high of $55.90. The company’s fifty day moving average is $49.88 and its two-hundred day moving average is $48.70. The firm has a market cap of $7.10 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Analysts forecast that Flowserve Co. will post 2.76 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is presently 47.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Bank of America restated a “buy” rating and issued a $60.00 price objective on shares of Flowserve in a research report on Tuesday, September 24th. The Goldman Sachs Group boosted their target price on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their price target on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

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.