Cookson Peirce & Co. Inc. Raises Position in Flowserve Co. (NYSE:FLS)

Cookson Peirce & Co. Inc. lifted its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 55.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,541 shares of the industrial products company's stock after buying an additional 7,357 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Flowserve were worth $1,182,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of Flowserve during the 3rd quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the 3rd quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in Flowserve during the 3rd quarter worth $29,000. UMB Bank n.a. grew its position in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after acquiring an additional 278 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in Flowserve during the 3rd quarter worth $42,000. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Trading Down 0.7 %

Shares of NYSE FLS traded down $0.35 during trading on Friday, reaching $48.44. The company had a trading volume of 2,926,795 shares, compared to its average volume of 1,135,502. The company's fifty day moving average price is $59.35 and its 200-day moving average price is $56.22. Flowserve Co. has a 12 month low of $43.00 and a 12 month high of $65.08. The stock has a market cap of $6.38 billion, a P/E ratio of 22.63, a PEG ratio of 1.35 and a beta of 1.42. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

Remove Ads

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's dividend payout ratio (DPR) is currently 39.25%.

Analyst Ratings Changes

FLS has been the topic of a number of research reports. Royal Bank of Canada reduced their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded 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 report on Thursday, December 12th. Mizuho boosted their price objective on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Robert W. Baird boosted their price objective on Flowserve from $69.00 to $71.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.60.

About Flowserve

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.