Natixis Advisors LLC raised its stake in Flowserve Co. (NYSE:FLS - Free Report) by 80.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 approximately 0.06% of Flowserve worth $4,469,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC acquired a new position in Flowserve in the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve during the third quarter worth about $29,000. UMB Bank n.a. raised its position in shares of Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after buying an additional 278 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of Flowserve during the third quarter valued at approximately $42,000. Finally, Brooklyn Investment Group acquired a new stake in Flowserve during the third quarter worth approximately $42,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on FLS shares. Stifel Nicolaus boosted 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. Royal Bank of Canada dropped their target price on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. StockNews.com downgraded shares of Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Mizuho increased their price objective on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $68.60.
Get Our Latest Stock Analysis on Flowserve
Flowserve Stock Performance
NYSE:FLS remained flat at $52.45 during mid-day trading on Tuesday. The company's stock had a trading volume of 952,865 shares, compared to its average volume of 1,163,834. Flowserve Co. has a one year low of $43.66 and a one year high of $65.08. The business has a 50-day simple moving average of $57.27 and a two-hundred day simple moving average of $56.46. 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 capitalization of $6.91 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43.
Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.
Flowserve Dividend Announcement
The firm also recently declared 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. This represents a $0.84 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.
Flowserve Profile
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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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