Barclays PLC Has $11.86 Million Stake in Flowserve Co. (NYSE:FLS)

Barclays PLC lifted its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 229,379 shares of the industrial products company's stock after acquiring an additional 34,645 shares during the period. Barclays PLC owned 0.17% of Flowserve worth $11,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Fifth Third Wealth Advisors LLC purchased a new stake in Flowserve during the second quarter worth about $187,000. Hennessy Advisors Inc. grew its position in shares of Flowserve by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 729,600 shares of the industrial products company's stock worth $35,094,000 after buying an additional 111,700 shares in the last quarter. Bailard Inc. grew its position in shares of Flowserve by 9.5% during the second quarter. Bailard Inc. now owns 12,095 shares of the industrial products company's stock worth $582,000 after buying an additional 1,050 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Flowserve by 41.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,141 shares of the industrial products company's stock worth $343,000 after buying an additional 2,107 shares in the last quarter. Finally, ABLE Financial Group LLC grew its position in shares of Flowserve by 3.5% during the second quarter. ABLE Financial Group LLC now owns 16,087 shares of the industrial products company's stock worth $774,000 after buying an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Trading Down 2.3 %

Shares of NYSE FLS traded down $1.41 during mid-day trading on Tuesday, hitting $59.83. 1,940,102 shares of the company traded hands, compared to its average volume of 1,118,021. Flowserve Co. has a 1 year low of $39.21 and a 1 year high of $62.32. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.48 and a beta of 1.41. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average of $57.77 and a two-hundred day moving average of $51.68.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. On average, sell-side analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, December 27th. Flowserve's payout ratio is currently 41.58%.

Analysts Set New Price Targets

FLS has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Robert W. Baird upped their price target on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Mizuho upped their price target on Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Bank of America upped their price target on Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and upped their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.40.

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.