Advisory Services Network LLC Purchases 1,097 Shares of Flowserve Co. (NYSE:FLS)

Advisory Services Network LLC raised its holdings in Flowserve Co. (NYSE:FLS) by 23.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,792 shares of the industrial products company’s stock after buying an additional 1,097 shares during the quarter. Advisory Services Network LLC’s holdings in Flowserve were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Bank of Nova Scotia lifted its stake in Flowserve by 23.3% during the fourth quarter. Bank of Nova Scotia now owns 12,997 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 2,457 shares during the period. FIL Ltd boosted its stake in Flowserve by 71.7% in the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock valued at $302,271,000 after buying an additional 2,193,904 shares in the last quarter. Invesco Ltd. grew its position in Flowserve by 52.7% in the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company’s stock valued at $118,953,000 after acquiring an additional 714,063 shares during the period. Polymer Capital Management US LLC acquired a new position in Flowserve during the fourth quarter worth $247,000. Finally, Cerity Partners LLC lifted its holdings in shares of Flowserve by 11.5% during the fourth quarter. Cerity Partners LLC now owns 65,304 shares of the industrial products company’s stock valued at $3,713,000 after acquiring an additional 6,717 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FLS. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Stifel Nicolaus decreased their price target on Flowserve from $77.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday. TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Citigroup reduced their price target on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.30.

Flowserve Stock Down 1.2 %

NYSE:FLS opened at $41.68 on Friday. The stock’s fifty day simple moving average is $50.69 and its 200-day simple moving average is $55.83. The firm has a market capitalization of $5.49 billion, a P/E ratio of 19.48, 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 $37.34 and a 12-month high of $65.08.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s dividend payout ratio is currently 39.25%.

Flowserve Company 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.