AlphaCrest Capital Management LLC Grows Stock Holdings in Flowserve Corp (NYSE:FLS)

AlphaCrest Capital Management LLC boosted its stake in Flowserve Corp (NYSE:FLS) by 22.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,344 shares of the industrial products company’s stock after purchasing an additional 2,944 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Flowserve were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. boosted its position in Flowserve by 91.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 520 shares during the last quarter. Exane Asset Management acquired a new stake in shares of Flowserve in the fourth quarter valued at approximately $77,000. Enlightenment Research LLC acquired a new stake in shares of Flowserve in the fourth quarter valued at approximately $95,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Flowserve in the fourth quarter valued at approximately $128,000. Finally, Dupont Capital Management Corp lifted its position in shares of Flowserve by 122.7% in the fourth quarter. Dupont Capital Management Corp now owns 3,715 shares of the industrial products company’s stock valued at $141,000 after buying an additional 2,047 shares during the last quarter. Institutional investors and hedge funds own 98.52% of the company’s stock.

Several research firms recently weighed in on FLS. Zacks Investment Research cut Flowserve from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. ValuEngine raised Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Flowserve has an average rating of “Hold” and a consensus price target of $49.69.

In other Flowserve news, insider John Lenander sold 5,761 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $49.32, for a total transaction of $284,132.52. Following the sale, the insider now owns 16,568 shares in the company, valued at $817,133.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.36% of the company’s stock.

FLS traded up $0.76 during midday trading on Monday, hitting $53.45. 1,058,400 shares of the company were exchanged, compared to its average volume of 999,370. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 1.54 and a beta of 1.62. Flowserve Corp has a 1-year low of $35.88 and a 1-year high of $56.86. The business has a 50 day moving average price of $49.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.17 and a quick ratio of 1.57.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $890.05 million for the quarter, compared to the consensus estimate of $943.79 million. Flowserve had a return on equity of 13.46% and a net margin of 4.25%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. On average, equities analysts predict that Flowserve Corp will post 2.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 21st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $0.76 annualized dividend and a dividend yield of 1.42%. Flowserve’s dividend payout ratio is currently 43.43%.

Flowserve Profile

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).

Further Reading: Oversold

Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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