Advisor OS LLC Buys Shares of 4,179 Flowserve Co. (NYSE:FLS)

Advisor OS LLC bought a new stake in Flowserve Co. (NYSE:FLS) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,179 shares of the industrial products company’s stock, valued at approximately $240,000.

Other large investors also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after purchasing an additional 37,132 shares in the last quarter. Vestcor Inc acquired a new stake in shares of Flowserve during the third quarter worth about $714,000. Stifel Financial Corp lifted its position in shares of Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock worth $12,619,000 after purchasing an additional 29,979 shares in the last quarter. Algert Global LLC lifted its position in shares of Flowserve by 130.3% during the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock worth $5,638,000 after purchasing an additional 61,710 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of 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 purchasing an additional 422,141 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FLS shares. Royal Bank of Canada reduced their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Mizuho increased 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. 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 report on Thursday, January 16th. Robert W. Baird raised their target price on shares of Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus raised their target price on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Stock Performance

Shares of Flowserve stock opened at $54.46 on Friday. The firm has a market capitalization of $7.15 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.35 and a beta of 1.42. Flowserve Co. has a 52 week low of $41.78 and a 52 week high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average is $60.29 and its two-hundred day moving average is $56.06.

Flowserve (NYSE:FLS) last announced 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). The company had revenue of $1.18 billion during 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%. Research analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.54%. Flowserve’s dividend payout ratio is currently 39.25%.

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.