Flowserve Corp (NYSE:FLS) Shares Bought by Point72 Hong Kong Ltd
Point72 Hong Kong Ltd raised its holdings in Flowserve Corp (NYSE:FLS) by 758.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,966 shares of the industrial products company’s stock after acquiring an additional 6,155 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Flowserve were worth $347,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its stake in shares of Flowserve by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 12,116,082 shares of the industrial products company’s stock worth $603,017,000 after buying an additional 53,150 shares during the last quarter. State Street Corp grew its holdings in Flowserve by 1.3% in the 4th quarter. State Street Corp now owns 5,371,921 shares of the industrial products company’s stock valued at $268,369,000 after buying an additional 68,949 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Flowserve by 15.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,865,398 shares of the industrial products company’s stock valued at $142,611,000 after buying an additional 387,816 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Flowserve by 8.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,314 shares of the industrial products company’s stock valued at $123,745,000 after buying an additional 183,739 shares during the period. Finally, SPF Beheer BV grew its holdings in Flowserve by 3.5% in the 4th quarter. SPF Beheer BV now owns 1,697,355 shares of the industrial products company’s stock valued at $84,800,000 after buying an additional 57,536 shares during the period. 96.32% of the stock is owned by institutional investors.
Flowserve stock traded up $1.66 during mid-day trading on Wednesday, hitting $23.00. The company’s stock had a trading volume of 2,496,719 shares, compared to its average volume of 1,252,596. The firm’s 50 day moving average is $37.55 and its 200 day moving average is $45.44. The company has a market cap of $2.52 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.86 and a beta of 1.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.25 and a quick ratio of 1.66. Flowserve Corp has a 52-week low of $18.98 and a 52-week high of $54.16.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Friday, March 27th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.80 dividend on an annualized basis and a yield of 3.48%. This is a positive change from Flowserve’s previous quarterly dividend of $0.19. Flowserve’s dividend payout ratio (DPR) is 34.55%.
In other news, Director Sujeet Chand acquired 1,000 shares of Flowserve stock in a transaction on Monday, February 24th. The stock was bought at an average price of $43.57 per share, for a total transaction of $43,570.00. Company insiders own 0.36% of the company’s stock.
FLS has been the subject of a number of research reports. Royal Bank of Canada reiterated a “hold” rating and set a $50.00 target price on shares of Flowserve in a report on Wednesday, February 19th. Vertical Research raised Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. Bank of America lowered Flowserve from a “neutral” rating to an “underperform” rating and set a $50.00 price objective for the company. in a report on Tuesday, December 17th. TheStreet lowered Flowserve from a “b-” rating to a “c” rating in a report on Tuesday, March 10th. Finally, Credit Suisse Group cut their price objective on Flowserve from $54.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.00.
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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