3,974 Shares in Flowserve Co. (NYSE:FLS) Purchased by OLD National Bancorp IN

OLD National Bancorp IN acquired a new stake in Flowserve Co. (NYSE:FLS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,974 shares of the industrial products company’s stock, valued at approximately $229,000.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after purchasing an additional 37,132 shares in the last quarter. Vestcor Inc purchased a new position in shares of Flowserve during the third quarter worth $714,000. Stifel Financial Corp lifted its position in Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after purchasing an additional 29,979 shares during the period. Algert Global LLC grew its position in Flowserve by 130.3% during the 3rd quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock worth $5,638,000 after purchasing an additional 61,710 shares during the period. Finally, Massachusetts Financial Services Co. MA raised 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 valued at $86,055,000 after buying an additional 422,141 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FLS shares. Citigroup dropped their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Robert W. Baird lifted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and increased their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Finally, TD Cowen increased their price target on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Flowserve Trading Down 0.5 %

NYSE FLS opened at $62.66 on Monday. The firm has a 50 day simple moving average of $60.42 and a 200-day simple moving average of $54.58. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.25 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve Co. has a one year low of $39.69 and a one year high of $65.08.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio is presently 41.58%.

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.