Allspring Global Investments Holdings LLC Has $1.77 Million Stock Holdings in Flowserve Co. (NYSE:FLS)

Allspring Global Investments Holdings LLC lifted its position in Flowserve Co. (NYSE:FLS) by 185.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,869 shares of the industrial products company’s stock after acquiring an additional 20,053 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Flowserve were worth $1,770,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FLS. Point72 Asset Management L.P. raised its position in shares of Flowserve by 197.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after acquiring an additional 606,416 shares during the period. Massachusetts Financial Services Co. MA raised its position 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 acquiring an additional 422,141 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Flowserve by 66.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company’s stock valued at $31,930,000 after acquiring an additional 220,805 shares during the period. Regents Gate Capital LLP acquired a new stake in shares of Flowserve in the 4th quarter valued at approximately $9,182,000. Finally, FMR LLC raised its position in shares of Flowserve by 15.6% in the 3rd quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock valued at $46,170,000 after acquiring an additional 120,396 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

NYSE FLS opened at $55.38 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 12-month low of $41.60 and a 12-month high of $65.08. The company has a market capitalization of $7.28 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 1.35 and a beta of 1.42. The firm’s 50 day moving average is $60.57 and its 200-day moving average is $55.85.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.52%. Flowserve’s dividend payout ratio is presently 39.25%.

Wall Street Analysts Forecast Growth

Several analysts have commented on FLS shares. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird raised their target price on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. 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. Finally, Mizuho raised their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and an average price target of $68.60.

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.