252,890 Shares in Flowserve Co. (NYSE:FLS) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Flowserve Co. (NYSE:FLS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 252,890 shares of the industrial products company’s stock, valued at approximately $14,546,000. Raymond James Financial Inc. owned 0.19% of Flowserve as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in Flowserve by 1.0% during the third 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 third quarter worth about $714,000. Stifel Financial Corp raised its stake 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 grew its position in Flowserve by 130.3% in the 3rd quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock worth $5,638,000 after purchasing an additional 61,710 shares during the last quarter. Finally, New York Life Investment Management LLC bought a new position in Flowserve in the 4th quarter worth about $800,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 0.9 %

Shares of NYSE:FLS opened at $49.90 on Wednesday. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 1-year low of $43.66 and a 1-year 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 company has a 50 day moving average price of $58.00 and a 200 day moving average price of $56.31.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. On average, research analysts anticipate that Flowserve Co. will post 3.18 EPS for the current fiscal 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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

FLS has been the subject of several recent analyst reports. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. TD Cowen upped their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada decreased their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and a consensus 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.