Veracity Capital LLC Purchases 2,736 Shares of Flowserve Co. (NYSE:FLS)

Veracity Capital LLC boosted its position in shares of Flowserve Co. (NYSE:FLS) by 24.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,043 shares of the industrial products company’s stock after buying an additional 2,736 shares during the quarter. Veracity Capital LLC’s holdings in Flowserve were worth $808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FLS. Janney Montgomery Scott LLC raised its holdings in shares of Flowserve by 18.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 42,050 shares of the industrial products company’s stock valued at $2,419,000 after purchasing an additional 6,584 shares during the period. SG Americas Securities LLC increased its position in Flowserve by 107.2% during the fourth quarter. SG Americas Securities LLC now owns 82,946 shares of the industrial products company’s stock worth $4,771,000 after buying an additional 42,908 shares during the last quarter. Simon Quick Advisors LLC bought a new stake in Flowserve in the fourth quarter valued at approximately $255,000. UMB Bank n.a. lifted its position in shares of Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after buying an additional 278 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Flowserve during the 4th quarter worth approximately $613,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 0.0 %

Shares of FLS stock opened at $64.26 on Friday. The stock has a 50 day simple moving average of $60.07 and a 200 day simple moving average of $53.87. Flowserve Co. has a 1 year low of $39.69 and a 1 year high of $65.08. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $8.44 billion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its earnings results 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). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts predict that Flowserve Co. will post 2.7 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio is currently 41.58%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FLS shares. Robert W. Baird increased their price target on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased 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. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, Jefferies Financial Group assumed coverage on Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and an average price target of $66.10.

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.