Barclays PLC Acquires 214,628 Shares of Flowserve Co. (NYSE:FLS)

Barclays PLC lifted its holdings in Flowserve Co. (NYSE:FLS) by 93.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 444,007 shares of the industrial products company’s stock after buying an additional 214,628 shares during the quarter. Barclays PLC owned approximately 0.34% of Flowserve worth $25,540,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Flowserve during the third quarter valued at approximately $227,000. Sanctuary Advisors LLC grew its stake in shares of Flowserve by 35.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,686 shares of the industrial products company’s stock worth $914,000 after buying an additional 4,670 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Flowserve during the 3rd quarter valued at approximately $29,000. Franklin Resources Inc. increased its position in Flowserve by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock valued at $3,909,000 after buying an additional 5,127 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Flowserve by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock valued at $104,000 after buying an additional 290 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

NYSE FLS opened at $41.68 on Friday. 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 Co. has a 1-year low of $37.34 and a 1-year high of $65.08. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.35 and a beta of 1.22. The business’s fifty day moving average price is $50.26 and its 200-day moving average price is $55.76.

Flowserve (NYSE:FLS) last released its quarterly earnings results 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). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, equities analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FLS shares. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Royal Bank of Canada reduced their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a report on Monday, March 17th. Finally, TD Cowen boosted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Two investment 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 company’s stock. Based on data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $64.30.

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.