Artisan Partners Limited Partnership Makes New Investment in Flowserve Co. (NYSE:FLS)

Artisan Partners Limited Partnership purchased a new stake in Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 399,987 shares of the industrial products company's stock, valued at approximately $23,007,000. Artisan Partners Limited Partnership owned 0.30% of Flowserve as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in Flowserve in the third quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve in the 3rd quarter valued at about $29,000. UMB Bank n.a. raised its position in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 278 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Flowserve in the 3rd quarter valued at about $42,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FLS shares. Stifel Nicolaus lifted their price target on shares of Flowserve from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. TD Cowen lifted their price objective 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. Mizuho boosted their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Citigroup decreased their price target on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Flowserve has an average rating of "Moderate Buy" and an average price target of $68.60.

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Flowserve Stock Performance

Shares of NYSE FLS traded up $0.45 during trading hours on Wednesday, reaching $49.64. The stock had a trading volume of 149,996 shares, compared to its average volume of 1,485,265. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.35 and a beta of 1.22. Flowserve Co. has a fifty-two week low of $43.66 and a fifty-two week high of $65.08. The firm has a 50-day moving average of $55.93 and a 200-day moving average of $56.59. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

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

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.69%. Flowserve's dividend payout ratio (DPR) is 39.25%.

Flowserve 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.