Proficio Capital Partners LLC Buys New Position in Flowserve Co. (NYSE:FLS)

Proficio Capital Partners LLC purchased a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,163 shares of the industrial products company's stock, valued at approximately $930,000.

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

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Flowserve Price Performance

NYSE FLS traded down $1.68 on Monday, hitting $46.76. The company had a trading volume of 1,285,627 shares, compared to its average volume of 1,137,684. The company has a market capitalization of $6.16 billion, a PE ratio of 21.80, a PEG ratio of 1.35 and a beta of 1.43. The company's fifty day moving average price is $59.35 and its 200-day moving average price is $56.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve Co. has a 12-month low of $43.00 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 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. As a group, analysts predict 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. Investors of record on Friday, March 28th will be given 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 1.80%. Flowserve's dividend payout ratio (DPR) is 39.25%.

Analyst Ratings Changes

FLS has been the subject of several recent analyst reports. Mizuho lifted 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. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Robert W. Baird boosted their price objective on shares of Flowserve from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Royal Bank of Canada decreased their price objective on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Finally, StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.60.

Flowserve Profile

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.