Flowserve Co. (NYSE:FLS) Holdings Lifted by Michael S. Ryan Inc.

Michael S. Ryan Inc. boosted its holdings in Flowserve Co. (NYSE:FLS) by 4.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,351 shares of the industrial products company’s stock after purchasing an additional 370 shares during the quarter. Flowserve accounts for about 0.3% of Michael S. Ryan Inc.’s portfolio, making the stock its 29th biggest position. Michael S. Ryan Inc.’s holdings in Flowserve were worth $480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. True Wealth Design LLC purchased a new stake in shares of Flowserve during the third quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in Flowserve during the third quarter valued at about $27,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve in the third quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve in the third quarter worth approximately $29,000. Finally, Allworth Financial LP boosted its stake in Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup upped their price target on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Bank of America raised their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Stifel Nicolaus lifted their target price on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.40.

Flowserve Stock Down 0.8 %

Shares of NYSE FLS traded down $0.48 during mid-day trading on Wednesday, reaching $58.95. 1,080,897 shares of the company traded hands, compared to its average volume of 1,140,775. The company’s fifty day moving average is $59.15 and its two-hundred day moving average is $52.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve Co. has a fifty-two week low of $39.31 and a fifty-two week high of $62.32. The stock has a market cap of $7.74 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts expect that Flowserve Co. will post 2.71 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.21 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.42%. Flowserve’s payout ratio is presently 41.58%.

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.