Vontobel Holding Ltd. Has $1.61 Million Stake in Flowserve Co. (NYSE:FLS)

Vontobel Holding Ltd. trimmed its stake in Flowserve Co. (NYSE:FLS) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,984 shares of the industrial products company’s stock after selling 1,261 shares during the period. Vontobel Holding Ltd.’s holdings in Flowserve were worth $1,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FLS. State Street Corp grew its holdings 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 during the period. Vestcor Inc acquired a new stake in Flowserve during the 3rd quarter worth about $714,000. Stifel Financial Corp grew its holdings in Flowserve by 14.0% during the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock worth $12,619,000 after acquiring an additional 29,979 shares during the period. Algert Global LLC grew its holdings in Flowserve by 130.3% during the 3rd quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock worth $5,638,000 after acquiring an additional 61,710 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after buying an additional 422,141 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Flowserve stock opened at $62.25 on Tuesday. Flowserve Co. has a 52 week low of $41.60 and a 52 week high of $65.08. The company’s 50 day moving average price is $60.75 and its two-hundred day moving average price is $55.55. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The stock has a market cap of $8.18 billion, a P/E ratio of 30.82, a P/E/G ratio of 1.29 and a beta of 1.42.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. Flowserve’s dividend payout ratio is currently 41.58%.

Analyst Ratings Changes

Several analysts have recently commented on FLS shares. Citigroup reduced their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Bank of America raised their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Finally, Robert W. Baird raised their target price on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and a consensus price target 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.