Flowserve (FLS) Shares Gap Down to $41.83

Flowserve Corp (NYSE:FLS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $42.53, but opened at $41.83. Flowserve shares last traded at $42.04, with a volume of 759520 shares traded.

A number of research analysts have recently issued reports on FLS shares. BMO Capital Markets downgraded shares of Flowserve from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $41.00 in a research report on Friday, November 3rd. Royal Bank of Canada restated a “sell” rating and issued a $39.00 price target on shares of Flowserve in a research report on Thursday, January 4th. Robert W. Baird reiterated a “hold” rating and set a $45.00 target price on shares of Flowserve in a research report on Friday, December 15th. Boenning Scattergood reiterated a “hold” rating on shares of Flowserve in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $49.00 target price on shares of Flowserve in a research report on Tuesday, October 17th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.92.

The stock has a market capitalization of $5,464.46, a P/E ratio of 26.81, a P/E/G ratio of 2.51 and a beta of 1.54. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, January 5th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $0.76 dividend on an annualized basis and a yield of 1.83%. Flowserve’s dividend payout ratio (DPR) is presently 58.92%.

A number of hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC grew its stake in shares of Flowserve by 2.5% in the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 126 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Flowserve in the 3rd quarter worth $1,799,000. Permian Investment Partners LP bought a new stake in shares of Flowserve in the 3rd quarter worth $28,535,000. Nomura Holdings Inc. bought a new stake in shares of Flowserve in the 2nd quarter worth $458,000. Finally, Nationwide Fund Advisors grew its stake in shares of Flowserve by 11.6% in the 3rd quarter. Nationwide Fund Advisors now owns 49,927 shares of the industrial products company’s stock worth $2,126,000 after acquiring an additional 5,200 shares in the last quarter.

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Flowserve Company Profile

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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