Chicago Partners Investment Group LLC purchased a new stake in Flowserve Co. (NYSE:FLS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,927 shares of the industrial products company's stock, valued at approximately $291,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FLS. Sanctuary Advisors LLC acquired a new stake in shares of Flowserve in the second quarter valued at approximately $609,000. GAMMA Investing LLC raised its position in Flowserve by 53.7% during the third quarter. GAMMA Investing LLC now owns 1,517 shares of the industrial products company's stock valued at $78,000 after purchasing an additional 530 shares in the last quarter. Insight Wealth Strategies LLC acquired a new position in Flowserve during the third quarter valued at approximately $3,447,000. CWM LLC raised its position in Flowserve by 65.9% during the third quarter. CWM LLC now owns 34,910 shares of the industrial products company's stock valued at $1,805,000 after purchasing an additional 13,865 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Flowserve by 68.7% during the third quarter. Exchange Traded Concepts LLC now owns 7,629 shares of the industrial products company's stock valued at $394,000 after purchasing an additional 3,107 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Flowserve Trading Down 0.7 %
Shares of Flowserve stock traded down $0.46 during trading on Friday, hitting $62.89. The company's stock had a trading volume of 603,232 shares, compared to its average volume of 1,204,735. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. Flowserve Co. has a 52 week low of $40.78 and a 52 week high of $65.08. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The stock has a 50-day moving average price of $60.58 and a two-hundred day moving average price of $54.95.
Flowserve Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.34%. Flowserve's dividend payout ratio is 41.58%.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Flowserve in a research report on Friday, October 18th. They set a "buy" rating and a $65.00 price objective for the company. StockNews.com downgraded shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 27th. TD Cowen boosted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Mizuho boosted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.50.
Read Our Latest Stock Report on FLS
Flowserve Profile
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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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