Cwm LLC Has $261,000 Position in Flowserve Co. (NYSE:FLS)

Cwm LLC grew its stake in Flowserve Co. (NYSE:FLS) by 218.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,325 shares of the industrial products company’s stock after buying an additional 4,339 shares during the quarter. Cwm LLC’s holdings in Flowserve were worth $261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Flowserve by 0.5% during the third 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 raised its position in Flowserve by 2.5% during the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after acquiring an additional 246,636 shares in the last quarter. Gabelli Funds LLC raised its position in Flowserve by 0.3% during the third 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 position 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 acquiring an additional 82,845 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in Flowserve by 2.7% during the third quarter. Brown Advisory Inc. now owns 1,141,486 shares of the industrial products company’s stock worth $45,397,000 after acquiring an additional 29,810 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen increased their price objective on shares of Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. Mizuho reissued a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Flowserve in a research report on Wednesday. Finally, StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $51.55.

Flowserve Stock Up 0.5 %

Shares of NYSE FLS opened at $47.52 on Friday. The company has a 50 day simple moving average of $45.45 and a 200 day simple moving average of $41.57. The firm has a market cap of $6.26 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. Flowserve Co. has a 1 year low of $32.49 and a 1 year high of $49.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.27.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $0.40 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, research analysts forecast that Flowserve Co. will post 2.6 EPS for the current year.

Flowserve Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s payout ratio is currently 47.46%.

About Flowserve

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.