Nomura Holdings Inc. Makes New Investment in Flowserve Co. (NYSE:FLS)

Nomura Holdings Inc. purchased a new position in Flowserve Co. (NYSE:FLSFree Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 154,870 shares of the industrial products company’s stock, valued at approximately $6,384,000. Nomura Holdings Inc. owned approximately 0.12% of Flowserve at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in Flowserve in the fourth quarter worth about $26,000. TFO Wealth Partners LLC raised its holdings in Flowserve by 14,663.6% during the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,613 shares during the period. USA Financial Formulas acquired a new stake in Flowserve during the 3rd quarter worth about $107,000. Advisory Services Network LLC acquired a new stake in Flowserve during the 4th quarter worth about $178,000. Finally, Blair William & Co. IL acquired a new stake in Flowserve during the 3rd quarter worth about $211,000. 93.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the completion of the sale, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Flowserve Stock Up 1.2 %

Shares of Flowserve stock opened at $47.85 on Tuesday. The stock has a market capitalization of $6.30 billion, a P/E ratio of 27.03, a PEG ratio of 1.22 and a beta of 1.44. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average price of $47.98 and a two-hundred day moving average price of $43.75. Flowserve Co. has a 12-month low of $35.23 and a 12-month high of $50.49.

Flowserve (NYSE:FLSGet Free Report) last announced its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities analysts expect that Flowserve Co. will post 2.66 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.21 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. Flowserve’s dividend payout ratio is 47.46%.

Analysts Set New Price Targets

FLS has been the topic of several recent analyst reports. Bank of America boosted their price objective on Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Royal Bank of Canada upped their target price on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. UBS Group upped their target price on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Mizuho reiterated a “buy” rating and issued a $53.00 target price (up previously from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. Finally, TD Cowen upped their target price on Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.55.

View Our Latest Analysis on Flowserve

Flowserve Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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