Vaughan Nelson Investment Management L.P. boosted its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 66.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 555,115 shares of the industrial products company's stock after acquiring an additional 220,805 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.42% of Flowserve worth $31,930,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp lifted 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 boosted its position in shares of 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 buying an additional 44,039 shares in the last quarter. Geode Capital Management LLC grew its stake in Flowserve by 1.1% in 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 acquiring an additional 23,529 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 acquiring an additional 4,414 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock valued at $86,055,000 after purchasing an additional 422,141 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on FLS. Stifel Nicolaus upped their price objective on Flowserve from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Royal Bank of Canada upgraded Flowserve from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Citigroup cut their price objective on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Bank of America increased their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Mizuho increased their target price on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.50.
Check Out Our Latest Report on Flowserve
Flowserve Stock Down 1.9 %
NYSE FLS traded down $1.18 on Wednesday, reaching $61.93. The company had a trading volume of 1,226,210 shares, compared to its average volume of 1,215,657. The firm has a market capitalization of $8.14 billion, a PE ratio of 30.66, a P/E/G ratio of 1.29 and a beta of 1.42. The firm has a 50-day moving average of $60.67 and a 200-day moving average of $55.25. Flowserve Co. has a 1 year low of $40.78 and a 1 year high of $65.08. 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.21 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.36%. Flowserve's payout ratio is currently 41.58%.
About Flowserve
(
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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