US Bancorp DE Buys 289 Shares of Flowserve Co. (NYSE:FLS)

US Bancorp DE grew its stake in Flowserve Co. (NYSE:FLS) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,722 shares of the industrial products company’s stock after purchasing an additional 289 shares during the quarter. US Bancorp DE’s holdings in Flowserve were worth $329,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after purchasing an additional 37,132 shares in the last quarter. Vestcor Inc bought a new stake in Flowserve during the third quarter worth $714,000. Stifel Financial Corp lifted its holdings in Flowserve by 14.0% during the third 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 lifted its holdings in Flowserve by 130.3% during the third 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, New York Life Investment Management LLC bought a new stake in Flowserve during the fourth quarter worth $800,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

Shares of NYSE FLS opened at $47.49 on Friday. The stock has a market cap of $6.26 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. Flowserve Co. has a fifty-two week low of $43.66 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a fifty day moving average of $58.75 and a 200-day moving average of $56.26.

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

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Analyst Ratings Changes

FLS has been the topic of a number of recent analyst reports. Citigroup dropped their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Robert W. Baird boosted their target price on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their target price on Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, TD Cowen boosted their target price on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.