Flowserve Co. (NYSE:FLS) Shares Bought by Entropy Technologies LP

Entropy Technologies LP lifted its holdings in Flowserve Co. (NYSE:FLS) by 27.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,464 shares of the industrial products company’s stock after buying an additional 6,798 shares during the quarter. Entropy Technologies LP’s holdings in Flowserve were worth $1,810,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC bought a new position in Flowserve in the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Flowserve during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Flowserve in the 3rd quarter worth approximately $29,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve during the 3rd quarter valued at approximately $29,000. Finally, Allworth Financial LP grew its stake in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Performance

FLS opened at $62.89 on Monday. Flowserve Co. has a 1-year low of $40.78 and a 1-year high of $65.08. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The business has a 50 day moving average price of $60.58 and a two-hundred day moving average price of $55.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 annualized dividend and a yield of 1.34%. Flowserve’s dividend payout ratio is currently 41.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Flowserve in a research note on Friday, October 18th. They issued a “buy” rating and a $65.00 target price on the stock. Robert W. Baird boosted their target price on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen upped 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. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, Bank of America increased their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.50.

Flowserve Company Profile

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.