Flowserve Co. (NYSE:FLS) Stock Holdings Lifted by Ieq Capital LLC

Ieq Capital LLC grew its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 1,922.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 117,624 shares of the industrial products company's stock after purchasing an additional 111,807 shares during the period. Ieq Capital LLC owned approximately 0.09% of Flowserve worth $6,766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock valued at $201,685,000 after buying an additional 37,132 shares during the period. Vestcor Inc bought a new position in shares of Flowserve in the third quarter valued at approximately $714,000. Stifel Financial Corp increased its stake in shares of Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company's stock valued at $12,619,000 after acquiring an additional 29,979 shares during the period. Algert Global LLC raised its holdings in Flowserve by 130.3% during the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company's stock worth $5,638,000 after purchasing an additional 61,710 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after purchasing an additional 422,141 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FLS has been the topic of several research analyst reports. Citigroup lowered their price target on Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Royal Bank of Canada cut their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Thursday. Bank of America lifted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. 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 report on Thursday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.60.

Flowserve Trading Down 3.6 %

Shares of FLS stock traded down $2.08 during trading hours on Friday, reaching $55.38. 2,004,391 shares of the stock traded hands, compared to its average volume of 1,352,376. 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 firm has a market capitalization of $7.28 billion, a PE ratio of 25.88, a PEG ratio of 1.21 and a beta of 1.42. Flowserve Co. has a 1-year low of $41.60 and a 1-year high of $65.08. The business has a fifty day moving average price of $60.57 and a 200 day moving average price of $55.78.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion for 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%. On average, equities research analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

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 dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. Flowserve's payout ratio is presently 39.25%.

Flowserve 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.