82,590 Shares in Flowserve Co. (NYSE:FLS) Bought by Beck Bode LLC

Beck Bode LLC acquired a new stake in Flowserve Co. (NYSE:FLS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 82,590 shares of the industrial products company’s stock, valued at approximately $3,404,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. Vanguard Group Inc. boosted its holdings in shares of Flowserve by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,260,754 shares of the industrial products company’s stock worth $527,380,000 after purchasing an additional 71,320 shares during the last quarter. Wellington Management Group LLP increased its holdings in Flowserve by 2.5% in the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock valued at $403,065,000 after buying an additional 246,636 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Flowserve by 0.3% during the 3rd quarter. Gabelli Funds LLC now owns 1,296,034 shares of the industrial products company’s stock worth $51,543,000 after acquiring an additional 3,540 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Flowserve by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,234,553 shares of the industrial products company’s stock worth $49,098,000 after purchasing an additional 82,845 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in Flowserve by 2.7% in the third quarter. Brown Advisory Inc. now owns 1,141,486 shares of the industrial products company’s stock valued at $45,397,000 after acquiring an additional 29,810 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on FLS. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Citigroup increased their price objective on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Robert W. Baird lifted their price objective on Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Bank of America lifted their target price on shares of Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Mizuho raised their price target on Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.22.

Flowserve Trading Down 0.1 %

Shares of NYSE FLS traded down $0.05 during trading on Tuesday, hitting $47.17. 2,508,373 shares of the company traded hands, compared to its average volume of 1,089,971. Flowserve Co. has a 1 year low of $32.49 and a 1 year high of $49.35. The firm has a market capitalization of $6.19 billion, a P/E ratio of 33.62, a P/E/G ratio of 1.33 and a beta of 1.46. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $45.04 and a 200-day moving average price of $41.36.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts predict that Flowserve Co. will post 2.55 EPS for the current year.

Flowserve Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a $0.21 dividend. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. Flowserve’s payout ratio is 59.57%.

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.