Oppenheimer Asset Management Inc. lifted its position in Flowserve Co. (NYSE:FLS - Free Report) by 52.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,642 shares of the industrial products company's stock after purchasing an additional 24,679 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.05% of Flowserve worth $4,121,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in Flowserve during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve during the 3rd quarter worth approximately $29,000. Allworth Financial LP raised its stake in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock worth $34,000 after buying an additional 403 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Flowserve by 64.2% in 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 in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on FLS shares. Citigroup lowered 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. The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. StockNews.com cut Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Robert W. Baird upped their price objective on Flowserve from $69.00 to $71.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus upped their target price on Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a report 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.60.
Check Out Our Latest Report on Flowserve
Flowserve Price Performance
NYSE FLS traded up $0.35 on Wednesday, reaching $50.81. 2,331,182 shares of the stock traded hands, compared to its average volume of 1,127,386. The firm's fifty day simple moving average is $59.89 and its 200 day simple moving average is $56.31. 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 $6.69 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 1.35 and a beta of 1.42. Flowserve Co. has a 12 month low of $42.37 and a 12 month high of $65.08.
Flowserve (NYSE:FLS - Get Free Report) last issued 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 net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. As a group, research analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal 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 given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.65%. 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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