Simon Quick Advisors LLC Purchases Shares of 4,428 Flowserve Co. (NYSE:FLS)

Simon Quick Advisors LLC acquired a new position in shares of Flowserve Co. (NYSE:FLS) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,428 shares of the industrial products company’s stock, valued at approximately $255,000.

A number of other hedge funds have also made changes to their positions in the business. UMB Bank n.a. lifted its stake in Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 278 shares during the last quarter. Merit Financial Group LLC acquired a new stake in Flowserve during the fourth quarter worth approximately $613,000. Connective Portfolio Management LLC purchased a new stake in shares of Flowserve during the 4th quarter worth approximately $1,564,000. USA Financial Formulas acquired a new position in shares of Flowserve in the 4th quarter valued at $295,000. Finally, Oak Thistle LLC purchased a new position in shares of Flowserve in the 4th quarter valued at $313,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup decreased their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus upped their target price on Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. Mizuho lifted their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and increased their price objective for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, Robert W. Baird lifted their target price on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Flowserve Stock Down 0.4 %

FLS opened at $64.06 on Friday. Flowserve Co. has a one year low of $39.69 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The business’s fifty day moving average is $60.27 and its two-hundred day moving average is $54.06. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.31 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Analysts anticipate that Flowserve Co. will post 2.7 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is presently 41.58%.

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.