Farther Finance Advisors LLC Boosts Holdings in Flowserve Corporation (NYSE:FLS)

Farther Finance Advisors LLC increased its position in shares of Flowserve Corporation (NYSE:FLS) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,583 shares of the industrial products company’s stock after buying an additional 351 shares during the quarter. Farther Finance Advisors LLC’s holdings in Flowserve were worth $176,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FLS. Arizona State Retirement System increased its stake in Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock worth $2,193,000 after acquiring an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Flowserve by 0.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock worth $1,527,000 after purchasing an additional 236 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Flowserve by 34.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock valued at $62,000 after buying an additional 275 shares during the period. US Bancorp DE raised its holdings in Flowserve by 5.3% in the 4th quarter. US Bancorp DE now owns 5,722 shares of the industrial products company’s stock valued at $329,000 after buying an additional 289 shares during the period. Finally, Mariner LLC lifted its position in Flowserve by 4.5% in the fourth quarter. Mariner LLC now owns 6,887 shares of the industrial products company’s stock valued at $396,000 after buying an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE:FLS opened at $46.42 on Friday. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $65.08. The company has a fifty day simple moving average of $47.17 and a two-hundred day simple moving average of $53.05. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 1.06 and a beta of 1.26.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.58 EPS. Flowserve’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.81%. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Mizuho set a $60.00 price target on shares of Flowserve in a research report on Friday, May 16th. Citigroup dropped their target price on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 14th. Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. Royal Bank Of Canada raised their price target on Flowserve from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Flowserve has an average rating of “Buy” and a consensus price target of $63.00.

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.