Focus Partners Wealth Acquires 3,198 Shares of Flowserve Co. (NYSE:FLS)

Focus Partners Wealth increased its holdings in Flowserve Co. (NYSE:FLS) by 61.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,387 shares of the industrial products company’s stock after purchasing an additional 3,198 shares during the period. Focus Partners Wealth’s holdings in Flowserve were worth $482,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC lifted its position in Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 479 shares during the last quarter. Colonial Trust Co SC lifted its position in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 478 shares during the last quarter. UMB Bank n.a. lifted its position in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 275 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Down 1.1%

NYSE FLS opened at $50.80 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a 50 day moving average of $46.62 and a 200-day moving average of $54.72. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.21 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.65%. Flowserve’s dividend payout ratio is 39.25%.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. StockNews.com raised shares of Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Robert W. Baird cut their price objective on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Stifel Nicolaus upped their target price on shares of Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Flowserve has a consensus rating of “Buy” and an average price target of $63.00.

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.