Keystone Financial Services Makes New $213,000 Investment in Flowserve Co. (NYSE:FLS)

Keystone Financial Services acquired a new stake in Flowserve Co. (NYSE:FLS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,699 shares of the industrial products company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FLS. KPP Advisory Services LLC increased its holdings in Flowserve by 3.2% in the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after buying an additional 215 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after acquiring an additional 215 shares in the last quarter. Savant Capital LLC increased its holdings in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after acquiring an additional 251 shares during the last quarter. National Bank of Canada FI raised its position in shares of Flowserve by 4.1% during the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 252 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Flowserve by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after purchasing an additional 277 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on FLS. Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. TD Cowen increased their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Bank of America raised their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and upped their target price for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.50.

Flowserve Stock Down 0.8 %

FLS opened at $62.25 on Monday. Flowserve Co. has a 52 week low of $41.60 and a 52 week high of $65.08. The business has a 50 day moving average price of $60.72 and a two-hundred day moving average price of $55.46. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The company has a market cap of $8.18 billion, a PE ratio of 30.82, a P/E/G ratio of 1.29 and a beta of 1.42.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend 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.