Fisher Asset Management LLC Raises Stock Holdings in Flowserve Co. (NYSE:FLS)

Fisher Asset Management LLC boosted its stake in shares of Flowserve Co. (NYSE:FLS) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 745,404 shares of the industrial products company’s stock after purchasing an additional 165,449 shares during the quarter. Fisher Asset Management LLC owned about 0.57% of Flowserve worth $42,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. True Wealth Design LLC bought a new stake in shares of Flowserve in the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve in the third quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings in Flowserve by 64.2% in 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. Finally, Brooklyn Investment Group acquired a new position in shares of Flowserve during the third quarter worth $42,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 1.2 %

FLS stock opened at $55.03 on Monday. The company has a market capitalization 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 Co. has a 12 month low of $41.78 and a 12 month high of $65.08. The firm’s fifty day simple moving average is $60.16 and its 200-day simple moving average is $56.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

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

Flowserve Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FLS shares. Mizuho raised their price objective on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Citigroup dropped their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, Stifel Nicolaus upped their price target on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

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.