Commonwealth Equity Services LLC grew its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 103.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,806 shares of the industrial products company's stock after purchasing an additional 10,557 shares during the period. Commonwealth Equity Services LLC's holdings in Flowserve were worth $1,197,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. True Wealth Design LLC bought a new stake in Flowserve during the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve in the third quarter valued at approximately $29,000. UMB Bank n.a. grew its stake in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after purchasing an additional 278 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after purchasing an additional 595 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. bought a new stake in Flowserve during the 4th quarter valued at $63,000. Hedge funds and other institutional investors own 93.93% of the company's stock.
Flowserve Stock Down 12.7 %
Flowserve stock traded down $6.33 during midday trading on Thursday, reaching $43.54. The company's stock had a trading volume of 1,972,157 shares, compared to its average volume of 1,218,763. Flowserve Co. has a 52-week low of $43.36 and a 52-week high of $65.08. The stock has a market capitalization of $5.74 billion, a P/E ratio of 20.34, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The stock's 50-day simple moving average is $55.23 and its 200-day simple moving average is $56.46.
Flowserve (NYSE:FLS - Get Free Report) last released its earnings results 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). The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. On average, sell-side analysts expect that Flowserve Co. will post 3.18 EPS for the current year.
Flowserve Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Flowserve's dividend payout ratio is currently 39.25%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on FLS shares. TD Cowen raised their price target on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Stifel Nicolaus raised their target price on shares of Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. StockNews.com lowered shares of Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Robert W. Baird raised shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective on the stock in a report on Monday, March 17th. Finally, The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.60.
View Our Latest Research Report on Flowserve
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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