Invesco Ltd. Grows Position in Flowserve Co. (NYSE:FLS)

Invesco Ltd. boosted its stake in Flowserve Co. (NYSE:FLS - Free Report) by 52.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,068,025 shares of the industrial products company's stock after purchasing an additional 714,063 shares during the quarter. Invesco Ltd. owned about 1.57% of Flowserve worth $118,953,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock worth $1,962,000 after acquiring an additional 215 shares in the last quarter. Arizona State Retirement System boosted its position in Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock valued at $2,193,000 after buying an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Flowserve by 0.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after buying an additional 236 shares in the last quarter. Savant Capital LLC lifted its stake in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock valued at $3,541,000 after acquiring an additional 251 shares during the last quarter. Finally, National Bank of Canada FI grew its position in Flowserve by 4.1% during the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock worth $327,000 after acquiring an additional 252 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Trading Down 1.2 %

NYSE FLS traded down $0.51 during trading hours on Friday, hitting $41.68. 1,672,596 shares of the company's stock were exchanged, compared to its average volume of 1,247,539. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The stock has a 50-day simple moving average of $50.26 and a 200 day simple moving average of $55.76. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, equities analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.02%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Analyst Ratings Changes

A number of brokerages have recently commented on FLS. Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target on the stock in a research note on Monday, March 17th. StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Mizuho lifted their price target on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Stifel Nicolaus cut their target price on Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a report on Monday. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.30.

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.