Flowserve Co. (NYSE:FLS) Shares Bought by Xponance Inc.

Xponance Inc. grew its position in Flowserve Co. (NYSE:FLS) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,140 shares of the industrial products company’s stock after buying an additional 972 shares during the quarter. Xponance Inc.’s holdings in Flowserve were worth $871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after buying an additional 277 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Flowserve by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company’s stock valued at $90,761,000 after acquiring an additional 4,414 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Flowserve by 71.7% during the third quarter. Cerity Partners LLC now owns 58,587 shares of the industrial products company’s stock valued at $3,028,000 after acquiring an additional 24,460 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in Flowserve during the 3rd quarter worth about $2,143,000. Finally, Daiwa Securities Group Inc. raised its stake in Flowserve by 89.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the industrial products company’s stock valued at $186,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FLS shares. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Royal Bank of Canada lowered their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Mizuho increased their target price on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Citigroup lowered their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Up 3.8 %

Shares of NYSE FLS opened at $52.48 on Tuesday. The stock has a fifty day moving average price of $57.41 and a 200 day moving average price of $56.41. The company has a market cap of $6.91 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 12-month low of $43.66 and a 12-month high of $65.08. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last announced 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). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Research analysts anticipate that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared 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 1.60%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

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.