Barclays PLC Acquires 34,645 Shares of Flowserve Co. (NYSE:FLS)

Barclays PLC grew its holdings in shares of Flowserve Co. (NYSE:FLS) by 17.8% during the third quarter, Holdings Channel reports. The firm owned 229,379 shares of the industrial products company’s stock after purchasing an additional 34,645 shares during the period. Barclays PLC’s holdings in Flowserve were worth $11,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLS. True Wealth Design LLC bought a new stake in Flowserve during the third quarter worth approximately $25,000. Signaturefd LLC lifted its stake in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after buying an additional 370 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in Flowserve in the 3rd quarter valued at $29,000. Finally, nVerses Capital LLC acquired a new position in Flowserve during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

NYSE:FLS opened at $61.25 on Tuesday. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.48 and a beta of 1.41. The company has a 50-day moving average of $57.77 and a 200-day moving average of $51.68. Flowserve Co. has a 52 week low of $39.21 and a 52 week high of $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.37%. Flowserve’s dividend payout ratio is currently 41.58%.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Stifel Nicolaus raised their price objective on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Citigroup upped their target price on shares of Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group assumed coverage on shares of Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Flowserve has an average rating of “Moderate Buy” and an average target price of $64.40.

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.