JPMorgan Chase & Co. Purchases 63,686 Shares of Flowserve Co. (NYSE:FLS)

JPMorgan Chase & Co. grew its stake in Flowserve Co. (NYSE:FLS - Free Report) by 22.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 353,387 shares of the industrial products company's stock after buying an additional 63,686 shares during the quarter. JPMorgan Chase & Co. owned 0.27% of Flowserve worth $20,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLS. Artisan Partners Limited Partnership acquired a new position in Flowserve during the fourth quarter valued at approximately $23,007,000. Raymond James Financial Inc. bought a new stake in Flowserve during the fourth quarter worth $14,546,000. Vaughan Nelson Investment Management L.P. lifted its stake in Flowserve by 66.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company's stock valued at $31,930,000 after acquiring an additional 220,805 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Flowserve by 28.5% during the 4th quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company's stock worth $42,876,000 after purchasing an additional 165,449 shares during the last quarter. Finally, Regents Gate Capital LLP bought a new stake in shares of Flowserve in the 4th quarter valued at about $9,182,000. Institutional investors and hedge funds own 93.93% of the company's stock.

Analysts Set New Price Targets

FLS has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Robert W. Baird upgraded shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 target price for the company in a research note on Monday, March 17th. Citigroup decreased their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday. Finally, StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.30.

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Flowserve Price Performance

Shares of FLS stock traded down $0.70 on Wednesday, hitting $42.12. 97,934 shares of the company's stock were exchanged, compared to its average volume of 1,241,314. 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 has a market cap of $5.55 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08. The company has a 50 day moving average of $51.11 and a 200 day moving average of $55.93.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share 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 analyst estimates of $1.21 billion. On average, equities research analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.99%. Flowserve's dividend payout ratio (DPR) is currently 39.25%.

Flowserve Company 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.