Several hedge funds recently changed their investments in Flowserve. For example, the Bank of Nova Scotia and Nomura Holdings both bought new shares worth about $1.1 million and $6.4 million, respectively. Cubist Systematic Strategies increased its holdings by over 717%, owning now 394,975 shares valued at around $16.3 million. Raleigh Capital Management also raised its position by 122%, with 1,083 shares worth $45,000. Overall, hedge funds and institutional investors own 93.93% of Flowserve.
Flowserve Stock Performance
Flowserve’s stock (NYSE:FLS) opened at $52.69. The stock’s 1-year low is $35.31 and its high is $53.86. Key financial metrics include a debt-to-equity ratio of 0.60, a current ratio of 2.00, and a beta of 1.39. The company’s market cap stands at $6.94 billion.
On July 29th, Flowserve announced earnings of $0.73 per share, surpassing the expected $0.63, with revenues totaling $1.16 billion, beating estimates of $1.13 billion.
Recent Dividend Announcement
Flowserve declared a quarterly dividend of $0.21 per share, payable on October 11th to investors recorded as of September 27th. This results in an annualized dividend of $0.84 and a yield of 1.59%.
Analyst Ratings and Price Targets
Recently, analyst firms have adjusted their price targets for Flowserve. Royal Bank of Canada set a target of $52.00, while Stifel Nicolaus raised theirs to $60.00. Overall, the stock has an average rating of Moderate Buy with an average target price of $56.88.
Get Our Latest Stock Analysis on Flowserve
About Flowserve
(Free Report) Flowserve Corporation designs and manufactures industrial flow management equipment across various regions including the US, Canada, and Europe.
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