Jackson Creek Investment Advisors LLC acquired a new position in Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 5,241 shares of the industrial products company's stock, valued at approximately $301,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new position in Flowserve in the third quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve in the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Flowserve during the third quarter valued at approximately $29,000. UMB Bank n.a. grew its stake in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after purchasing an additional 278 shares during the period. Finally, Brooklyn Investment Group bought a new position in Flowserve in the third quarter worth $42,000. Hedge funds and other institutional investors own 93.93% of the company's stock.
Flowserve Stock Performance
Shares of NYSE FLS traded up $1.25 during trading on Wednesday, reaching $48.62. 1,968,774 shares of the company traded hands, compared to its average volume of 1,149,689. 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 50 day simple moving average of $58.93 and a 200-day simple moving average of $56.32. Flowserve Co. has a 52-week low of $43.52 and a 52-week high of $65.08. The stock has a market capitalization of $6.41 billion, a PE ratio of 22.72, a P/E/G ratio of 1.35 and a beta of 1.43.
Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. Equities research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.
Flowserve Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.73%. Flowserve's dividend payout ratio (DPR) is 39.25%.
Analyst Upgrades and Downgrades
FLS has been the subject of several research reports. Mizuho increased their price target on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Robert W. Baird lifted their target price on shares of Flowserve from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Royal Bank of Canada reduced their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Citigroup dropped their target price on Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, Stifel Nicolaus increased their target price on Flowserve from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and an average target price of $68.60.
Read Our Latest Stock Report on FLS
Flowserve Company Profile
(
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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