Flowserve Co. (NYSE:FLS) Stock Position Reduced by Bank of Montreal Can

Bank of Montreal Can trimmed its position in Flowserve Co. (NYSE:FLS) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,157 shares of the industrial products company’s stock after selling 48,746 shares during the quarter. Bank of Montreal Can’s holdings in Flowserve were worth $5,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC raised its holdings in shares of Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 479 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve during the 3rd quarter valued at about $29,000. UMB Bank n.a. raised its stake in 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 acquiring an additional 278 shares during the period. EverSource Wealth Advisors LLC raised its stake in Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 595 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in Flowserve by 34.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 275 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup dropped their price target on Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday. TD Cowen increased their target price on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Robert W. Baird raised shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Monday, March 17th. Finally, Royal Bank of Canada decreased their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.30.

Flowserve Stock Performance

FLS opened at $42.46 on Tuesday. The business has a 50 day moving average price of $51.52 and a two-hundred day moving average price of $56.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08.

Flowserve (NYSE:FLS) last announced 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). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Research analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.98%. Flowserve’s dividend payout ratio is currently 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.