Flowserve Co. (NYSE:FLS) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in Flowserve Co. (NYSE:FLS - Free Report) by 25.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,994 shares of the industrial products company's stock after buying an additional 22,850 shares during the quarter. American Century Companies Inc. owned about 0.08% of Flowserve worth $6,384,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve in the 3rd quarter valued at approximately $29,000. UMB Bank n.a. lifted its stake 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 in the last quarter. EverSource Wealth Advisors LLC grew its position in Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 595 shares in the last quarter. Quintet Private Bank Europe S.A. acquired a new position in shares of Flowserve in the fourth quarter worth $63,000. Finally, GAMMA Investing LLC increased its position in shares of Flowserve by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock worth $104,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on FLS. TD Cowen boosted their target price on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Citigroup cut 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. Robert W. Baird upgraded shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target for the company in a report on Monday, March 17th. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Stifel Nicolaus boosted their target price on shares of Flowserve from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.60.

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Flowserve Stock Performance

NYSE:FLS traded up $5.05 during mid-day trading on Wednesday, reaching $44.54. 2,571,611 shares of the stock were exchanged, compared to its average volume of 1,228,367. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08. The company has a 50 day simple moving average of $52.74 and a 200-day simple moving average of $56.20. The stock has a market capitalization of $5.87 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 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%. Analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, March 28th. Flowserve's dividend payout ratio is presently 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.