LPL Financial LLC lifted its position in Flowserve Co. (NYSE:FLS - Free Report) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,519 shares of the industrial products company's stock after acquiring an additional 7,302 shares during the quarter. LPL Financial LLC owned 0.05% of Flowserve worth $3,826,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve during the third quarter valued at $29,000. UMB Bank n.a. grew 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 valued at $41,000 after purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after purchasing an additional 595 shares during the last quarter. Quintet Private Bank Europe S.A. acquired a new stake in shares of Flowserve during the fourth quarter worth about $63,000. Finally, GAMMA Investing LLC boosted its position in Flowserve by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock valued at $104,000 after buying an additional 290 shares during the last quarter. Institutional investors own 93.93% of the company's stock.
Flowserve Stock Performance
Shares of Flowserve stock traded down $0.66 during trading on Wednesday, reaching $42.15. The company's stock had a trading volume of 97,934 shares, compared to its average volume of 1,241,314. The company has a 50-day moving average price of $51.11 and a two-hundred day moving average price of $55.93. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week 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 firm has a market cap of $5.55 billion, a PE ratio of 19.70, a P/E/G ratio of 1.35 and a beta of 1.22.
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 the consensus estimate 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 for the quarter, compared to analyst estimates of $1.21 billion. On average, analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.
Flowserve Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.99%. Flowserve's payout ratio is currently 39.25%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Stifel Nicolaus dropped their price objective on shares of Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a report on Monday. Citigroup decreased their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a report on Monday. Royal Bank of Canada reduced their price target on 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, Robert W. Baird upgraded shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 target price for the company in a research note on Monday, March 17th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.30.
Check Out Our Latest Stock Report on FLS
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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