Michael S. Ryan Inc. Boosts Position in Flowserve Co. (NYSE:FLS)

Michael S. Ryan Inc. lifted its holdings in Flowserve Co. (NYSE:FLS) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,351 shares of the industrial products company’s stock after acquiring an additional 370 shares during the period. Flowserve makes up 0.3% of Michael S. Ryan Inc.’s portfolio, making the stock its 29th biggest position. Michael S. Ryan Inc.’s holdings in Flowserve were worth $480,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp increased its holdings in 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. Stifel Financial Corp grew its position in shares of Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock worth $12,619,000 after buying an additional 29,979 shares in the last quarter. Millennium Management LLC increased its stake in shares of Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after buying an additional 1,596,429 shares during the last quarter. Vestcor Inc acquired a new stake in Flowserve in the third quarter valued at $714,000. Finally, Interval Partners LP grew its holdings in Flowserve by 60.1% during the 2nd quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock worth $44,593,000 after acquiring an additional 348,107 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FLS has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price objective for the company. Stifel Nicolaus raised their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bank of America increased their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Finally, Robert W. Baird lifted their target price on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.40.

Flowserve Stock Performance

FLS stock traded down $0.48 during trading on Wednesday, reaching $58.95. 1,080,897 shares of the company’s stock were exchanged, compared to its average volume of 1,140,775. Flowserve Co. has a 1-year low of $39.31 and a 1-year high of $62.32. The firm has a market cap of $7.74 billion, a PE ratio of 29.18, a P/E/G ratio of 1.48 and a beta of 1.42. The company’s fifty day moving average price is $59.15 and its 200-day moving average price is $52.85. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

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

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.42%. 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.