Advisor OS LLC Buys New Stake in Flowserve Co. (NYSE:FLS)

Advisor OS LLC bought a new stake in Flowserve Co. (NYSE:FLS) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 4,179 shares of the industrial products company’s stock, valued at approximately $240,000.

Several other large investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after purchasing an additional 37,132 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Flowserve by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock valued at $134,577,000 after purchasing an additional 44,039 shares during the period. Geode Capital Management LLC lifted its stake in shares of Flowserve by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after purchasing an additional 23,529 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Flowserve by 0.3% in the 3rd 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 purchasing an additional 4,414 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Flowserve by 34.0% in the 3rd 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. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Flowserve stock opened at $54.46 on Friday. Flowserve Co. has a 52-week low of $41.78 and a 52-week high of $65.08. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.35 and a beta of 1.42. The company has a fifty day simple moving average of $60.29 and a 200-day simple moving average of $56.06. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio is currently 39.25%.

Wall Street Analysts Forecast Growth

FLS has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective 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. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Robert W. Baird upped their price objective on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, TD Cowen upped their price objective 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently 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.