Oppenheimer Asset Management Inc. Boosts Stake in Flowserve Co. (NYSE:FLS)

Oppenheimer Asset Management Inc. increased its stake in Flowserve Co. (NYSE:FLS) by 52.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,642 shares of the industrial products company’s stock after acquiring an additional 24,679 shares during the period. Oppenheimer Asset Management Inc. owned about 0.05% of Flowserve worth $4,121,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its position in Flowserve by 197.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after acquiring an additional 606,416 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after purchasing an additional 422,141 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Flowserve by 66.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company’s stock worth $31,930,000 after purchasing an additional 220,805 shares during the last quarter. Regents Gate Capital LLP bought a new stake in Flowserve during the 4th quarter valued at $9,182,000. Finally, FMR LLC boosted its position in Flowserve by 15.6% during the 3rd quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock valued at $46,170,000 after buying an additional 120,396 shares during the period. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

FLS has been the subject of several recent analyst reports. Mizuho upped their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. TD Cowen boosted their price target on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Stifel Nicolaus boosted their target price on Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird upped their target price on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Trading Up 1.2 %

Shares of NYSE FLS opened at $55.03 on Friday. Flowserve Co. has a 1 year low of $41.78 and a 1 year high of $65.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The firm has a 50-day moving average of $60.16 and a 200 day moving average of $56.11. The stock has a market cap of $7.23 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.42.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, sell-side analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.53%. Flowserve’s dividend payout ratio is currently 39.25%.

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.