Pier Capital LLC lifted its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,069 shares of the industrial products company's stock after buying an additional 39,282 shares during the period. Flowserve comprises about 1.6% of Pier Capital LLC's investment portfolio, making the stock its 6th largest holding. Pier Capital LLC owned 0.15% of Flowserve worth $11,048,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC acquired a new position in Flowserve during the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve in the third quarter worth $29,000. UMB Bank n.a. boosted its holdings in Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after purchasing an additional 278 shares during the last quarter. Brooklyn Investment Group bought a new position in Flowserve in the third quarter valued at $42,000. Finally, Canton Hathaway LLC acquired a new stake in Flowserve in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 93.93% of the company's stock.
Flowserve Stock Performance
Shares of FLS stock traded down $1.71 during midday trading on Friday, hitting $48.72. 1,161,029 shares of the company were exchanged, compared to its average volume of 1,220,751. The firm has a market capitalization of $6.42 billion, a P/E ratio of 22.77, a PEG ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a 52 week low of $43.66 and a 52 week high of $65.08. The firm's 50 day moving average price is $56.54 and its two-hundred day moving average price is $56.48.
Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, equities research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.
Flowserve Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's payout ratio is 39.25%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on FLS shares. Citigroup reduced their price objective on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. TD Cowen raised 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. Finally, Mizuho upped their price target on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research 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's stock. Based on data from MarketBeat, Flowserve has an average rating of "Moderate Buy" and a consensus target price of $68.60.
Read Our Latest Stock Analysis on FLS
Flowserve Profile
(
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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