International Assets Investment Management LLC Invests $3.70 Million in Flowserve Co. (NYSE:FLS)

International Assets Investment Management LLC bought a new position in shares of Flowserve Co. (NYSE:FLS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 89,635 shares of the industrial products company’s stock, valued at approximately $3,695,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS Group AG lifted its holdings in shares of Flowserve by 332.7% during the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company’s stock worth $10,725,000 after buying an additional 207,346 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Flowserve by 4.8% during the third quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company’s stock worth $1,936,000 after buying an additional 2,235 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Flowserve during the fourth quarter worth $866,000. Clearbridge Investments LLC acquired a new stake in shares of Flowserve during the third quarter worth $29,745,000. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 71,320 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FLS shares. Royal Bank of Canada boosted their price target on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Citigroup boosted their price target on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Robert W. Baird boosted their price target on Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Mizuho reaffirmed a “buy” rating and issued a $53.00 price target (up previously from $50.00) on shares of Flowserve in a research note on Wednesday, May 1st. Finally, UBS Group boosted their price target on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.55.

Flowserve Stock Performance

Flowserve stock opened at $49.35 on Friday. Flowserve Co. has a 12-month low of $32.49 and a 12-month high of $49.38. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $45.95 and its two-hundred day moving average price is $41.87. The stock has a market cap of $6.50 billion, a PE ratio of 27.88, a P/E/G ratio of 1.25 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts expect that Flowserve Co. will post 2.62 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.21 per share. This is a boost from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, March 27th. Flowserve’s payout ratio is 47.46%.

Flowserve 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.