Natixis Advisors LLC Buys 34,738 Shares of Flowserve Co. (NYSE:FLS)

Natixis Advisors LLC grew its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 80.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,709 shares of the industrial products company's stock after acquiring an additional 34,738 shares during the quarter. Natixis Advisors LLC owned about 0.06% of Flowserve worth $4,469,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Flowserve in the third quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve during the third quarter valued at approximately $29,000. UMB Bank n.a. raised its holdings in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after acquiring an additional 278 shares during the last quarter. Brooklyn Investment Group bought a new position in Flowserve in the 3rd quarter valued at approximately $42,000. Finally, Canton Hathaway LLC purchased a new stake in Flowserve during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price target on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Mizuho raised their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, TD Cowen boosted their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.60.

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Flowserve Stock Performance

FLS traded down $1.15 during midday trading on Wednesday, reaching $51.29. The company had a trading volume of 1,137,485 shares, compared to its average volume of 1,162,691. Flowserve Co. has a 1 year low of $43.66 and a 1 year high of $65.08. 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 company has a market cap of $6.76 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.35 and a beta of 1.43. The business has a 50-day moving average of $57.27 and a two-hundred day moving average of $56.46.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, equities research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 dividend on an annualized basis and a yield of 1.64%. Flowserve's payout ratio is presently 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.