Pacer Advisors Inc. Raises Stock Holdings in Flowserve Co. (NYSE:FLS)

Pacer Advisors Inc. raised its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 30.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,049 shares of the industrial products company's stock after buying an additional 8,182 shares during the period. Pacer Advisors Inc.'s holdings in Flowserve were worth $2,016,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in shares of Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock worth $201,685,000 after purchasing an additional 37,132 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Flowserve by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company's stock valued at $134,577,000 after acquiring an additional 44,039 shares in the last quarter. Geode Capital Management LLC increased its position in Flowserve by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company's stock valued at $113,851,000 after purchasing an additional 23,529 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Flowserve by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company's stock worth $90,761,000 after purchasing an additional 4,414 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after purchasing an additional 422,141 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

FLS has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Bank of America increased their target price on Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. TD Cowen lifted their price target on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. StockNews.com cut Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 27th. Finally, Royal Bank of Canada raised Flowserve from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Flowserve has a consensus rating of "Moderate Buy" and an average price target of $67.50.

Flowserve Stock Up 1.1 %

Flowserve stock traded up $0.72 during mid-day trading on Wednesday, reaching $63.20. The stock had a trading volume of 1,195,826 shares, compared to its average volume of 1,245,101. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 1.28 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. Flowserve Co. has a one year low of $40.23 and a one year high of $65.08. The company has a 50-day moving average price of $60.49 and a two-hundred day moving average price of $54.81.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Friday, December 27th. Flowserve's dividend payout ratio (DPR) is currently 41.58%.

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.