Flowserve Co. (NYSE:FLS) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its holdings in Flowserve Co. (NYSE:FLS – Get Rating) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,100 shares of the industrial products company’s stock after acquiring an additional 10,344 shares during the period. Raymond James & Associates owned 0.13% of Flowserve worth $5,341,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FLS. Captrust Financial Advisors lifted its stake in Flowserve by 17.1% during the second quarter. Captrust Financial Advisors now owns 2,073 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 303 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Flowserve by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 34,830 shares of the industrial products company’s stock worth $846,000 after purchasing an additional 341 shares in the last quarter. Credit Suisse AG lifted its stake in Flowserve by 0.3% during the third quarter. Credit Suisse AG now owns 132,160 shares of the industrial products company’s stock worth $3,212,000 after purchasing an additional 376 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Flowserve by 1.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,499 shares of the industrial products company’s stock worth $1,181,000 after purchasing an additional 387 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Flowserve by 5.3% during the third quarter. Prudential Financial Inc. now owns 9,641 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 487 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

FLS opened at $35.07 on Tuesday. The business’s 50-day simple moving average is $33.37 and its 200-day simple moving average is $32.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.92. Flowserve Co. has a one year low of $23.89 and a one year high of $38.86. The stock has a market capitalization of $4.60 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.62.

Flowserve (NYSE:FLS – Get Rating) last released its quarterly earnings results on Monday, May 1st. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. Flowserve had a return on equity of 10.44% and a net margin of 6.13%. The firm had revenue of $980.31 million for the quarter, compared to analyst estimates of $898.83 million. During the same quarter last year, the company posted $0.07 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. Analysts anticipate that Flowserve Co. will post 1.81 EPS for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 7th. Investors of record on Friday, March 24th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Thursday, March 23rd. Flowserve’s dividend payout ratio is currently 45.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FLS shares. Morgan Stanley upped their price target on Flowserve from $31.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Royal Bank of Canada raised their price target on Flowserve from $34.00 to $38.00 in a research note on Wednesday, May 3rd. TheStreet upgraded Flowserve from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. Mizuho raised their price target on Flowserve from $37.00 to $40.00 in a research note on Wednesday, May 3rd. Finally, Bank of America upgraded Flowserve from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $40.00 in a research note on Monday, January 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.78.

Flowserve Profile

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Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through Flowserve Pumps Division and Flow Control Division segments. The Flowserve Pumps Division provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts, and related services.