Massachusetts Financial Services Co. MA Has $105.39 Million Stock Holdings in Flowserve Co. (NYSE:FLS)

Massachusetts Financial Services Co. MA boosted its position in Flowserve Co. (NYSE:FLS) by 10.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,832,204 shares of the industrial products company’s stock after purchasing an additional 167,379 shares during the period. Massachusetts Financial Services Co. MA owned about 1.39% of Flowserve worth $105,388,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC boosted its stake in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 479 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve in the third quarter valued at $29,000. UMB Bank n.a. raised its position in shares of Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after buying an additional 595 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. acquired a new stake in shares of Flowserve during the 4th quarter worth about $63,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

FLS stock opened at $40.07 on Friday. The company’s 50-day moving average price is $54.75 and its two-hundred day moving average price is $56.41. The firm has a market cap of $5.28 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 12 month low of $38.23 and a 12 month 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.21 billion. On average, analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FLS. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Citigroup lowered their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird raised shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price for the company in a research report on Monday, March 17th. Finally, TD Cowen raised their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

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.