BTC Capital Management Inc. bought a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,010 shares of the industrial products company's stock, valued at approximately $231,000.
Other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock worth $201,685,000 after purchasing an additional 37,132 shares during the last quarter. Vestcor Inc purchased a new position in shares of Flowserve during the third quarter worth about $714,000. Stifel Financial Corp grew its holdings in shares of Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company's stock worth $12,619,000 after purchasing an additional 29,979 shares during the last quarter. Algert Global LLC grew its holdings in shares of Flowserve by 130.3% during the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company's stock worth $5,638,000 after purchasing an additional 61,710 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after purchasing an additional 422,141 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.
Flowserve Price Performance
Shares of FLS stock traded up $0.52 during midday trading on Tuesday, reaching $62.47. 463,181 shares of the company traded hands, compared to its average volume of 1,228,000. The firm's 50 day simple moving average is $60.42 and its two-hundred day simple moving average is $54.66. Flowserve Co. has a 1-year low of $40.04 and a 1-year high of $65.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The firm has a market cap of $8.21 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42.
Flowserve Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.21 per share. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. Flowserve's payout ratio is 41.58%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Bank of America raised their price target on Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Robert W. Baird raised their price target on Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Citigroup lowered their price target on Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Mizuho raised their price target on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Finally, TD Cowen raised 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.50.
View Our Latest Research Report on FLS
About Flowserve
(
Free Report)
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.
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