Proficio Capital Partners LLC Makes New $930,000 Investment in Flowserve Co. (NYSE:FLS)

Proficio Capital Partners LLC acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 16,163 shares of the industrial products company's stock, valued at approximately $930,000.

Other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its holdings in shares of Flowserve by 0.6% in the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock valued at $1,962,000 after buying an additional 215 shares in the last quarter. Savant Capital LLC lifted its position in Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock valued at $3,541,000 after acquiring an additional 251 shares during the last quarter. National Bank of Canada FI boosted its stake in Flowserve by 4.1% in the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock valued at $327,000 after acquiring an additional 252 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Flowserve by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company's stock worth $1,330,000 after purchasing an additional 277 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of 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 in the last quarter. Institutional investors own 93.93% of the company's stock.

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Flowserve Price Performance

FLS stock 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 1,161,161. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 52 week low of $43.66 and a 52 week high of $65.08. The firm has a 50-day moving average of $57.41 and a 200 day moving average of $56.41. The firm has a market capitalization of $6.91 billion, a P/E 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 announced its 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). The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, research analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 annualized dividend and a dividend yield of 1.60%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Analyst Ratings Changes

Several analysts have weighed in on FLS shares. TD Cowen boosted their price target on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Stifel Nicolaus increased their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a "sell" rating to a "neutral" rating and boosted their target price for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Mizuho lifted their price objective on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Citigroup decreased their price objective on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a report on Monday, January 13th. 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $68.60.

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.