Bailard Inc. Purchases 500 Shares of Flowserve Co. (NYSE:FLS)

Bailard Inc. grew its position in shares of Flowserve Co. (NYSE:FLS) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,195 shares of the industrial products company’s stock after buying an additional 500 shares during the period. Bailard Inc.’s holdings in Flowserve were worth $759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FLS. True Wealth Design LLC acquired a new stake in shares of Flowserve during the 3rd quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve in the third quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB bought a new stake in Flowserve during the 3rd quarter worth $29,000. UMB Bank n.a. grew its holdings 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 during the last quarter. Finally, Canton Hathaway LLC bought a new stake in Flowserve during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 4.3 %

Shares of FLS stock opened at $52.67 on Tuesday. Flowserve Co. has a fifty-two week low of $41.94 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a 50 day simple moving average of $60.16 and a two-hundred day simple moving average of $56.25. The company has a market cap of $6.94 billion, a P/E ratio of 24.61, a PEG ratio of 1.35 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share 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 the consensus estimate 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 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.59%. Flowserve’s dividend payout ratio is currently 39.25%.

Analyst Upgrades and Downgrades

FLS has been the subject of several analyst reports. Royal Bank of Canada dropped their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Citigroup cut their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Mizuho upped their price target on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird raised their price objective on Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and upped their target price for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.