Avantax Advisory Services Inc. Purchases Shares of 4,828 Flowserve Co. (NYSE:FLS)

Avantax Advisory Services Inc. purchased a new stake in shares of Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,828 shares of the industrial products company's stock, valued at approximately $278,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 595 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Flowserve by 22.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,400 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Flowserve by 14.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,182 shares of the industrial products company's stock valued at $2,024,000 after purchasing an additional 4,458 shares during the period. AlphaQuest LLC boosted its holdings in shares of Flowserve by 86.4% in the fourth quarter. AlphaQuest LLC now owns 29,003 shares of the industrial products company's stock valued at $1,668,000 after acquiring an additional 13,443 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in Flowserve by 35.3% during the 4th quarter. Edgestream Partners L.P. now owns 10,384 shares of the industrial products company's stock worth $597,000 after purchasing an additional 2,712 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several equities research analysts have commented on FLS shares. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective on the stock in a research note on Monday, March 17th. TD Cowen upped their price target on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Mizuho raised their price objective on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada decreased their target price on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $68.60.

Flowserve Trading Down 3.4 %

NYSE FLS traded down $1.71 during trading hours on Friday, hitting $48.72. The company's stock had a trading volume of 1,161,029 shares, compared to its average volume of 1,220,751. The stock has a fifty day moving average of $56.54 and a 200 day moving average of $56.48. The firm has a market capitalization of $6.42 billion, a P/E ratio of 22.77, a PEG ratio of 1.35 and a beta of 1.43. Flowserve Co. has a twelve month low of $43.66 and a twelve month high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.72%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

About Flowserve

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.