IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,596 shares of the industrial products company's stock, valued at approximately $897,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new position in shares of Flowserve during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the 3rd quarter worth about $29,000. UMB Bank n.a. grew its holdings in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 278 shares in the last quarter. Brooklyn Investment Group bought a new stake in Flowserve during the third quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC grew its stake in Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 595 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on FLS shares. Citigroup cut their target price on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group upgraded 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 research note on Thursday, December 12th. Robert W. Baird upgraded 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. Stifel Nicolaus raised their price target on Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Mizuho increased their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Flowserve has a consensus rating of "Moderate Buy" and an average target price of $68.60.
Read Our Latest Report on FLS
Flowserve Price Performance
Shares of Flowserve stock traded up $0.34 on Tuesday, reaching $49.18. 157,872 shares of the stock were exchanged, compared to its average volume of 1,491,143. The firm's 50 day moving average is $56.24 and its 200-day moving average is $56.58. The firm has a market cap of $6.48 billion, a PE ratio of 22.98, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a one year low of $43.66 and a one year high of $65.08.
Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, analysts anticipate that Flowserve Co. will post 3.18 EPS for the current fiscal year.
Flowserve Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.71%. Flowserve's dividend payout ratio (DPR) is currently 39.25%.
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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