Brandes Investment Partners LP increased its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,877 shares of the industrial products company's stock after buying an additional 7,089 shares during the period. Brandes Investment Partners LP owned about 0.08% of Flowserve worth $6,148,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in FLS. True Wealth Design LLC acquired a new position in Flowserve in the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve in the third quarter valued at approximately $29,000. UMB Bank n.a. boosted its holdings in 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 in the last quarter. Brooklyn Investment Group acquired a new position in Flowserve in the third quarter valued at approximately $42,000. Finally, Canton Hathaway LLC acquired a new position in Flowserve in the third quarter valued at approximately $42,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on FLS shares. Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target for the company in a report on Monday. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday. TD Cowen increased their price objective on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Citigroup decreased their price objective on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and increased their price objective for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Flowserve has a consensus rating of "Moderate Buy" and a consensus target price of $68.60.
View Our Latest Stock Analysis on FLS
Flowserve Stock Performance
Shares of NYSE FLS traded up $0.15 during mid-day trading on Thursday, hitting $51.46. 1,298,481 shares of the company were exchanged, compared to its average volume of 1,155,102. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $57.85 and a 200-day simple moving average of $56.28. Flowserve Co. has a 1-year low of $43.66 and a 1-year high of $65.08. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43.
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 the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.
Flowserve Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's payout ratio is 39.25%.
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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