Boothbay Fund Management LLC Acquires Shares of 62,496 Flowserve Co. (NYSE:FLS)

Boothbay Fund Management LLC bought a new position in shares of Flowserve Co. (NYSE:FLS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 62,496 shares of the industrial products company’s stock, valued at approximately $3,595,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLS. Headlands Technologies LLC increased its position in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Flowserve during the third quarter valued at about $29,000. UMB Bank n.a. increased its holdings in Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after buying an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 595 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Flowserve by 34.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 0.6 %

Shares of FLS opened at $44.89 on Friday. The business’s 50-day moving average price is $47.86 and its 200-day moving average price is $55.34. 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 Co. has a twelve month low of $37.34 and a twelve month high of $65.08. The stock has a market cap of $5.91 billion, a PE ratio of 20.98, a P/E/G ratio of 1.35 and a beta of 1.22.

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

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. Flowserve’s dividend payout ratio is currently 39.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Flowserve from $77.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 14th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Citigroup cut their price target on Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Mizuho boosted their price objective on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, TD Cowen increased their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Two 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.30.

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.