Quintet Private Bank Europe S.A. Takes Position in Flowserve Co. (NYSE:FLS)

Quintet Private Bank Europe S.A. bought a new position in shares of Flowserve Co. (NYSE:FLS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,100 shares of the industrial products company’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new stake in Flowserve in the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve in the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve in the third quarter valued at $29,000. UMB Bank n.a. raised 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 period. Finally, Brooklyn Investment Group bought a new position in shares of Flowserve during the third quarter worth about $42,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 4.3 %

NYSE:FLS opened at $52.67 on Tuesday. Flowserve Co. has a one year low of $41.94 and a one year high of $65.08. The company has a market cap of $6.94 billion, a PE ratio of 24.61, a PEG ratio of 1.35 and a beta of 1.42. The firm has a 50-day moving average of $60.16 and a 200-day moving average of $56.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

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 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%. As a group, equities research analysts expect 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. Stockholders of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FLS. Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird lifted their price target on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Royal Bank of Canada reduced their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve presently has an average 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.