Corient Private Wealth LLC Acquires 423 Shares of Flowserve Co. (NYSE:FLS)

Corient Private Wealth LLC lifted its holdings in shares of Flowserve Co. (NYSE:FLS) by 8.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,417 shares of the industrial products company’s stock after buying an additional 423 shares during the period. Corient Private Wealth LLC’s holdings in Flowserve were worth $312,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC bought a new position in shares of Flowserve in the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve in the 3rd quarter worth about $29,000. UMB Bank n.a. raised its position in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 595 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. acquired a new stake in shares of Flowserve during the fourth quarter valued at about $63,000. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Mizuho lifted their price target on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a research report on Monday, March 17th. Citigroup lowered their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, TD Cowen increased their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Price Performance

FLS stock opened at $48.72 on Monday. Flowserve Co. has a 1 year low of $43.66 and a 1 year high of $65.08. The stock has a market capitalization of $6.42 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company’s 50-day moving average is $56.54 and its 200-day moving average is $56.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

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

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.72%. Flowserve’s payout ratio is 39.25%.

Flowserve Company 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.