Flowserve Co. (NYSE:FLS) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. boosted its stake in shares of Flowserve Co. (NYSE:FLS) by 64.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 711 shares of the industrial products company’s stock after acquiring an additional 278 shares during the quarter. UMB Bank n.a.’s holdings in Flowserve were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Millennium Management LLC grew its position in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after buying an additional 1,596,429 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after purchasing an additional 606,416 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Flowserve by 34.0% in the third 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 purchasing an additional 422,141 shares during the period. FMR LLC increased its position in Flowserve by 15.6% during the 3rd quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock worth $46,170,000 after purchasing an additional 120,396 shares during the period. Finally, Concentric Capital Strategies LP purchased a new position in shares of Flowserve during the 3rd quarter worth approximately $6,099,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Trading Down 0.4 %

Shares of FLS stock opened at $64.06 on Friday. Flowserve Co. has a twelve month low of $39.69 and a twelve month high of $65.08. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.31 and a beta of 1.42. The firm has a 50-day moving average price of $60.27 and a 200 day moving average price of $54.11. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 earnings per share. Research analysts forecast that Flowserve Co. will post 2.7 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 annualized dividend and a yield of 1.31%. Flowserve’s payout ratio is 41.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FLS. Mizuho upped their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. 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. Robert W. Baird lifted their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $67.50.

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.