Advisory Services Network LLC Invests $178,000 in Flowserve Co. (NYSE:FLS)

Advisory Services Network LLC acquired a new position in Flowserve Co. (NYSE:FLSFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,330 shares of the industrial products company’s stock, valued at approximately $178,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Flowserve in the fourth quarter worth $714,000. Clearbridge Investments LLC grew its stake in Flowserve by 6.0% during the fourth quarter. Clearbridge Investments LLC now owns 792,965 shares of the industrial products company’s stock valued at $32,686,000 after acquiring an additional 45,047 shares in the last quarter. Wells Fargo & Company MN grew its stake in Flowserve by 2.2% during the fourth quarter. Wells Fargo & Company MN now owns 388,740 shares of the industrial products company’s stock valued at $16,024,000 after acquiring an additional 8,280 shares in the last quarter. UBS Group AG grew its stake in Flowserve by 4.0% during the fourth quarter. UBS Group AG now owns 280,544 shares of the industrial products company’s stock valued at $11,564,000 after acquiring an additional 10,872 shares in the last quarter. Finally, Norges Bank purchased a new position in Flowserve during the fourth quarter valued at $59,261,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Flowserve

In related news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the completion of the sale, the chief executive officer now owns 407,243 shares in the company, valued at approximately $20,354,005.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FLS. Mizuho reaffirmed a “buy” rating and set a $53.00 target price (up from $50.00) on shares of Flowserve in a research note on Wednesday, May 1st. Bank of America raised their target price on shares of Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 27th. Stifel Nicolaus raised their target price on shares of Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, TD Cowen increased their price objective on shares of Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.55.

View Our Latest Stock Report on FLS

Flowserve Price Performance

Flowserve stock opened at $47.45 on Friday. The firm has a 50-day moving average price of $47.91 and a 200-day moving average price of $43.54. The firm has a market capitalization of $6.25 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. Flowserve Co. has a 12-month low of $35.21 and a 12-month high of $50.49.

Flowserve (NYSE:FLSGet Free Report) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. As a group, equities research analysts forecast that Flowserve Co. will post 2.66 EPS for the current year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.21 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

About Flowserve

(Free Report)

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.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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