Vanguard Group Inc. Buys 101,668 Shares of Flowserve Co. (NYSE:FLS)

Vanguard Group Inc. boosted its position in Flowserve Co. (NYSE:FLS - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,477,208 shares of the industrial products company's stock after purchasing an additional 101,668 shares during the period. Vanguard Group Inc. owned about 10.26% of Flowserve worth $775,209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FLS. State Street Corp grew its stake 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 worth $201,685,000 after acquiring an additional 37,132 shares during the period. Geode Capital Management LLC lifted its holdings in Flowserve by 1.1% during 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 purchasing an additional 23,529 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company's stock worth $47,207,000 after purchasing an additional 606,416 shares during the period. FMR LLC increased its stake in shares of Flowserve by 15.6% in the third quarter. FMR LLC now owns 893,200 shares of the industrial products company's stock worth $46,170,000 after purchasing an additional 120,396 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Flowserve by 28.5% in the fourth quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company's stock valued at $42,876,000 after purchasing an additional 165,449 shares during the period. 93.93% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts recently commented on FLS shares. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. StockNews.com cut Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Royal Bank of Canada dropped their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Citigroup reduced their target price on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.60.

Flowserve Price Performance

Shares of NYSE:FLS traded down $6.33 during trading on Thursday, reaching $43.54. The company had a trading volume of 1,972,157 shares, compared to its average volume of 1,218,763. The company has a fifty day moving average of $55.23 and a two-hundred day moving average of $56.46. The stock has a market capitalization of $5.74 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 12 month low of $43.36 and a 12 month high of $65.08. 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 (NYSE:FLS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Equities research analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced 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. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, March 28th. Flowserve's payout ratio is presently 39.25%.

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.