Loomis Sayles & Co. L P Purchases Shares of 410,541 Flowserve Co. (NYSE:FLS)

Loomis Sayles & Co. L P acquired a new stake in shares of Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 410,541 shares of the industrial products company's stock, valued at approximately $23,614,000. Loomis Sayles & Co. L P owned approximately 0.31% of Flowserve at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock valued at $1,962,000 after purchasing an additional 215 shares during the period. Arizona State Retirement System increased its stake 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 purchasing an additional 225 shares in the last quarter. Savant Capital LLC raised its holdings in Flowserve by 0.4% in the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock worth $3,541,000 after purchasing an additional 251 shares during the period. National Bank of Canada FI boosted its position in shares of Flowserve by 4.1% during the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock worth $327,000 after purchasing an additional 252 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after buying an additional 278 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several brokerages have issued reports on FLS. TD Cowen increased their price target on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. StockNews.com downgraded shares of Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Royal Bank of Canada lowered their price objective on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and lifted their price target for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Flowserve currently has an average rating of "Moderate Buy" and a consensus target price of $68.60.

Flowserve Stock Performance

Shares of FLS stock traded up $0.66 on Wednesday, hitting $49.85. The company's stock had a trading volume of 162,666 shares, compared to its average volume of 1,215,344. Flowserve Co. has a fifty-two week low of $43.66 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock's 50 day moving average is $55.93 and its 200-day moving average is $56.59. The company has a market capitalization of $6.57 billion, a PE ratio of 23.31, 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 (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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.69%. Flowserve's dividend payout ratio is 39.25%.

About Flowserve

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.