SRS Capital Advisors Inc. Decreases Holdings in Flowserve Co. (NYSE:FLS)

SRS Capital Advisors Inc. lowered its position in Flowserve Co. (NYSE:FLS) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,344 shares of the industrial products company’s stock after selling 245 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Flowserve were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its stake in shares of Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after purchasing an additional 37,132 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after purchasing an additional 44,039 shares during the last quarter. Geode Capital Management LLC boosted its position in Flowserve by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after buying an additional 23,529 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Flowserve by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company’s stock valued at $90,761,000 after buying an additional 4,414 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after buying an additional 422,141 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FLS shares. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Robert W. Baird increased their price objective on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. The Goldman Sachs Group raised 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. TD Cowen increased their price target 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. Finally, Mizuho boosted their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Trading Up 0.7 %

Shares of FLS opened at $50.81 on Thursday. Flowserve Co. has a 1-year low of $42.37 and a 1-year high of $65.08. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.35 and a beta of 1.42. The firm’s 50-day moving average price is $59.89 and its 200-day moving average price is $56.31. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

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

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 1.65%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio is currently 39.25%.

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.