Janney Montgomery Scott LLC grew its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,050 shares of the industrial products company's stock after purchasing an additional 6,584 shares during the quarter. Janney Montgomery Scott LLC's holdings in Flowserve were worth $2,419,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. True Wealth Design LLC purchased a new stake in Flowserve in the third quarter worth $25,000. V Square Quantitative Management LLC purchased a new stake in Flowserve in the 3rd quarter worth about $27,000. Wilmington Savings Fund Society FSB bought a new stake in Flowserve in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in Flowserve during the third quarter valued at about $29,000. Finally, Allworth Financial LP boosted its position in Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock worth $34,000 after purchasing an additional 403 shares during the period. 93.93% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
FLS has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Flowserve from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, January 24th. The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and increased their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Bank of America lifted their price target on Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. TD Cowen increased their price objective on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Finally, Citigroup reduced their target price on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Flowserve currently has a consensus rating of "Moderate Buy" and an average target price of $67.50.
View Our Latest Report on Flowserve
Flowserve Price Performance
FLS traded up $0.72 on Wednesday, reaching $63.20. The company had a trading volume of 1,195,826 shares, compared to its average volume of 1,245,101. Flowserve Co. has a 52-week low of $40.23 and a 52-week high of $65.08. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 1.28 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The business has a 50 day simple moving average of $60.49 and a 200 day simple moving average of $54.81.
Flowserve Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, December 27th. Flowserve's dividend payout ratio is currently 41.58%.
About Flowserve
(
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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