William Blair Investment Management LLC Has $374,000 Holdings in Flowserve Co. (NYSE:FLS)

William Blair Investment Management LLC trimmed its stake in shares of Flowserve Co. (NYSE:FLS) by 31.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,502 shares of the industrial products company’s stock after selling 2,984 shares during the period. William Blair Investment Management LLC’s holdings in Flowserve were worth $374,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of Flowserve by 46.6% in the 3rd quarter. Victory Capital Management Inc. now owns 184,864 shares of the industrial products company’s stock valued at $9,556,000 after purchasing an additional 58,769 shares during the period. KBC Group NV raised its position in Flowserve by 17.9% in the 3rd quarter. KBC Group NV now owns 3,432 shares of the industrial products company’s stock valued at $177,000 after buying an additional 522 shares during the last quarter. Prospera Financial Services Inc lifted its stake in Flowserve by 4.7% in the 3rd quarter. Prospera Financial Services Inc now owns 29,311 shares of the industrial products company’s stock valued at $1,515,000 after acquiring an additional 1,314 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Flowserve by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after acquiring an additional 277 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Flowserve by 34.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after acquiring an additional 422,141 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Performance

FLS opened at $51.36 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 12-month low of $43.66 and a 12-month high of $65.08. The business has a 50 day moving average of $57.85 and a 200-day moving average of $56.28. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.35 and a beta of 1.43.

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

Flowserve Dividend Announcement

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 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 yield of 1.64%. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

Wall Street Analyst Weigh In

FLS has been the topic of a number of research reports. Mizuho boosted their price objective on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $69.00 in a report on Thursday, December 12th. TD Cowen lifted their target price on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Stifel Nicolaus increased their price target on Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently 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.