IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $897,000 in Flowserve Co. (NYSE:FLS)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Flowserve Co. (NYSE:FLS) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 15,596 shares of the industrial products company’s stock, valued at approximately $897,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLS. True Wealth Design LLC acquired a new position in shares of Flowserve in the third quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve during the 3rd quarter valued at approximately $29,000. UMB Bank n.a. grew its position in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after buying an additional 278 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Flowserve during the third quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after buying an additional 595 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FLS has been the subject of several recent analyst reports. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target for the company in a research note on Monday, March 17th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and upped their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Mizuho lifted their target price on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Citigroup dropped their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Down 1.8 %

Flowserve stock opened at $50.43 on Friday. The company has a 50-day simple moving average of $56.83 and a 200-day simple moving average of $56.38. Flowserve Co. has a one year low of $43.66 and a one year high of $65.08. The firm has a market capitalization of $6.64 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS) last posted its 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). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, equities analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.67%. Flowserve’s payout ratio is 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.