Flowserve Co. (NYSE:FLS) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Flowserve Co. (NYSE:FLS) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,643 shares of the industrial products company’s stock after purchasing an additional 3,627 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flowserve were worth $1,263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FLS. Clearbridge Investments LLC acquired a new position in Flowserve in the third quarter worth $29,745,000. AQR Capital Management LLC boosted its holdings in shares of Flowserve by 270.4% during the third quarter. AQR Capital Management LLC now owns 636,509 shares of the industrial products company’s stock valued at $25,314,000 after acquiring an additional 464,667 shares during the period. Pantechnicon Advisors LLP acquired a new position in shares of Flowserve during the third quarter valued at $17,976,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Flowserve by 283.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 357,113 shares of the industrial products company’s stock valued at $14,202,000 after acquiring an additional 263,957 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Flowserve by 2.5% during the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock valued at $403,065,000 after acquiring an additional 246,636 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

Shares of Flowserve stock opened at $46.77 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $44.88 and its two-hundred day moving average price is $41.21. Flowserve Co. has a 52 week low of $32.37 and a 52 week high of $48.31. The stock has a market cap of $6.14 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.46.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.63 earnings per share. Flowserve’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flowserve Co. will post 2.55 EPS for the current fiscal year.

Flowserve Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.80%. Flowserve’s payout ratio is 59.57%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Saturday. Royal Bank of Canada boosted their price target on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Robert W. Baird lifted their price objective on shares of Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Citigroup lifted their price objective on shares of Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Mizuho lifted their price objective on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.25.

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.