Janney Montgomery Scott LLC Boosts Stock Holdings in Flowserve Co. (NYSE:FLS)

Janney Montgomery Scott LLC raised its holdings in shares of Flowserve Co. (NYSE:FLSGet Rating) by 56.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,917 shares of the industrial products company’s stock after buying an additional 9,323 shares during the period. Janney Montgomery Scott LLC’s holdings in Flowserve were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FLS. Envestnet Asset Management Inc. purchased a new stake in Flowserve during the first quarter valued at about $208,000. Raymond James & Associates boosted its position in Flowserve by 70.7% during the first quarter. Raymond James & Associates now owns 113,597 shares of the industrial products company’s stock valued at $4,078,000 after buying an additional 47,032 shares during the period. American Century Companies Inc. boosted its holdings in shares of Flowserve by 15.1% during the first quarter. American Century Companies Inc. now owns 14,896 shares of the industrial products company’s stock worth $535,000 after purchasing an additional 1,950 shares during the period. US Bancorp DE boosted its holdings in shares of Flowserve by 11.0% during the first quarter. US Bancorp DE now owns 8,139 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 807 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Flowserve by 3.2% during the first quarter. Bank of Montreal Can now owns 159,979 shares of the industrial products company’s stock worth $5,667,000 after purchasing an additional 4,900 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FLS. Credit Suisse Group increased their target price on shares of Flowserve from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, November 2nd. Morgan Stanley increased their target price on shares of Flowserve from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, January 6th. The Goldman Sachs Group dropped their target price on shares of Flowserve from $29.00 to $25.00 and set a “sell” rating for the company in a report on Tuesday, October 11th. Citigroup increased their target price on shares of Flowserve from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, December 9th. Finally, Mizuho increased their target price on shares of Flowserve from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, January 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.63.

Flowserve Price Performance

FLS stock opened at $33.29 on Friday. Flowserve Co. has a 1 year low of $23.89 and a 1 year high of $37.59. The company has a market cap of $4.35 billion, a P/E ratio of 52.02, a PEG ratio of 1.53 and a beta of 1.61. The firm has a 50-day moving average of $31.26 and a 200 day moving average of $30.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.04 and a quick ratio of 1.32.

Flowserve (NYSE:FLSGet Rating) last announced its earnings results on Monday, October 31st. The industrial products company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.15). Flowserve had a net margin of 2.41% and a return on equity of 6.80%. The business had revenue of $872.88 million for the quarter, compared to the consensus estimate of $868.17 million. During the same period in the prior year, the business posted $0.29 EPS. Flowserve’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Flowserve Co. will post 0.91 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, December 29th. Flowserve’s dividend payout ratio is 125.00%.

About Flowserve

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Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket 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.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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