Commonwealth Equity Services LLC Acquires 10,557 Shares of Flowserve Co. (NYSE:FLS)

Commonwealth Equity Services LLC grew its stake in Flowserve Co. (NYSE:FLS) by 103.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,806 shares of the industrial products company’s stock after purchasing an additional 10,557 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Flowserve were worth $1,197,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FLS. HighTower Advisors LLC lifted its stake in Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after acquiring an additional 215 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after purchasing an additional 225 shares during the last quarter. Savant Capital LLC lifted its position in shares of Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after purchasing an additional 251 shares in the last quarter. National Bank of Canada FI boosted its holdings in Flowserve by 4.1% during the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 252 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 3.4 %

Shares of Flowserve stock opened at $48.72 on Monday. 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 market capitalization of $6.42 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 52-week low of $43.66 and a 52-week high of $65.08. The stock’s 50-day simple moving average is $56.54 and its 200 day simple moving average is $56.56.

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

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Analyst Ratings Changes

Several equities analysts have commented on FLS shares. Citigroup dropped their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada decreased their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. TD Cowen boosted their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Two 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 stock. According to MarketBeat.com, Flowserve currently 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.