89,635 Shares in Flowserve Co. (NYSE:FLS) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in shares of Flowserve Co. (NYSE:FLS) in the fourth quarter, HoldingsChannel reports. The firm bought 89,635 shares of the industrial products company’s stock, valued at approximately $3,695,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in Flowserve during the first quarter valued at $163,840,000. Millennium Management LLC bought a new position in Flowserve during the fourth quarter valued at $25,041,000. Norges Bank bought a new position in Flowserve during the fourth quarter valued at $25,015,000. Clearbridge Investments LLC bought a new position in Flowserve during the third quarter valued at $29,745,000. Finally, Alyeska Investment Group L.P. bought a new position in Flowserve during the first quarter valued at $18,741,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.5 %

FLS stock opened at $45.67 on Thursday. The company has a market capitalization of $5.99 billion, a PE ratio of 32.39, a P/E/G ratio of 1.32 and a beta of 1.46. Flowserve Co. has a 12 month low of $32.05 and a 12 month high of $48.31. The firm’s 50-day moving average is $44.35 and its 200 day moving average is $40.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. On average, research analysts anticipate that Flowserve Co. will post 2.55 EPS for the current year.

Flowserve Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a dividend of $0.21 per share. This is an increase 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 dividend on an annualized basis and a yield of 1.84%. Flowserve’s dividend payout ratio (DPR) is 59.57%.

Analyst Ratings Changes

FLS has been the subject of several research reports. Citigroup increased their price objective on shares of Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Mizuho raised their target price on shares of Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Stifel Nicolaus raised their target price on shares of Flowserve from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird raised their target price on shares of Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada raised their target price on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong 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 $48.25.

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.