KBC Group NV Boosts Stock Position in Flowserve Co. (NYSE:FLS)

KBC Group NV increased its stake in Flowserve Co. (NYSE:FLS) by 57.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,418 shares of the industrial products company’s stock after acquiring an additional 1,986 shares during the period. KBC Group NV’s holdings in Flowserve were worth $312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. State Street Corp lifted its position in Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after acquiring an additional 37,132 shares in the last quarter. Vestcor Inc acquired a new position in shares of Flowserve in the third quarter worth about $714,000. Stifel Financial Corp boosted its stake in shares of Flowserve by 14.0% during the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after buying an additional 29,979 shares during the last quarter. Algert Global LLC raised its holdings in Flowserve by 130.3% in the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock valued at $5,638,000 after acquiring an additional 61,710 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Flowserve by 34.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after acquiring an additional 422,141 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Down 1.1 %

Shares of FLS stock opened at $61.93 on Tuesday. Flowserve Co. has a 1 year low of $40.04 and a 1 year high of $65.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a market cap of $8.14 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. The business’s fifty day moving average is $60.42 and its 200-day moving average is $54.66.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.21 per share. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.36%. Flowserve’s dividend payout ratio (DPR) is presently 41.58%.

Analyst Ratings Changes

FLS has been the topic of a number of research analyst reports. Stifel Nicolaus increased their target price on Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Bank of America raised their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Mizuho raised their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Finally, TD Cowen boosted their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $67.50.

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.