Vanguard Group Inc. Has $775.21 Million Position in Flowserve Co. (NYSE:FLS)

Vanguard Group Inc. increased its position in shares of Flowserve Co. (NYSE:FLS) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,477,208 shares of the industrial products company’s stock after buying an additional 101,668 shares during the quarter. Vanguard Group Inc. owned 10.26% of Flowserve worth $775,209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC acquired a new stake in shares of Flowserve in the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve in the 3rd quarter valued at $29,000. UMB Bank n.a. lifted its position in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after buying an additional 278 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Flowserve during the 3rd quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 595 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE FLS opened at $48.72 on Friday. The stock has a market cap of $6.42 billion, a PE ratio of 22.77, a P/E/G ratio of 1.35 and a beta of 1.43. 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 firm has a 50-day moving average of $56.54 and a 200-day moving average of $56.48. Flowserve Co. has a 52-week low of $43.66 and a 52-week high of $65.08.

Flowserve (NYSE:FLS) last issued its quarterly earnings data 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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on FLS. Royal Bank of Canada reduced their price target on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Mizuho boosted their target price 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 shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target for the company in a research note on Monday, March 17th. Finally, TD Cowen lifted their price objective 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 equities research 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 stock. According to MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $68.60.

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.