Fisher Asset Management LLC increased its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 745,404 shares of the industrial products company's stock after purchasing an additional 165,449 shares during the quarter. Fisher Asset Management LLC owned approximately 0.57% of Flowserve worth $42,876,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC bought a new stake in Flowserve during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve in the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Flowserve in the third quarter valued at approximately $29,000. UMB Bank n.a. increased its holdings in shares of Flowserve by 64.2% in the fourth 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 during the last quarter. Finally, Brooklyn Investment Group bought a new position in Flowserve in the 3rd quarter valued at about $42,000. 93.93% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently weighed in on FLS shares. TD Cowen upped their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Robert W. Baird boosted their price target on shares of Flowserve from $69.00 to $71.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Mizuho boosted their target price on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Citigroup dropped their target price on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and upped their price objective for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Flowserve presently has an average rating of "Moderate Buy" and an average target price of $68.60.
View Our Latest Research Report on FLS
Flowserve Stock Performance
Shares of NYSE:FLS traded down $2.37 during midday trading on Monday, hitting $52.67. The company had a trading volume of 1,272,221 shares, compared to its average volume of 1,336,228. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.35 and a beta of 1.42. Flowserve Co. has a 12-month low of $41.94 and a 12-month high of $65.08. The company has a fifty day moving average of $60.16 and a two-hundred day moving average of $56.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.
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 the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, equities research analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.
Flowserve Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, March 28th. Flowserve's dividend payout ratio is currently 39.25%.
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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