Ieq Capital LLC Raises Position in Flowserve Co. (NYSE:FLS)

Ieq Capital LLC lifted its stake in shares of Flowserve Co. (NYSE:FLS) by 1,922.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,624 shares of the industrial products company’s stock after buying an additional 111,807 shares during the period. Ieq Capital LLC’s holdings in Flowserve were worth $6,766,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. KPP Advisory Services LLC boosted its holdings in Flowserve by 3.2% during the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 215 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after purchasing an additional 215 shares in the last quarter. Savant Capital LLC boosted its holdings in Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after purchasing an additional 251 shares during the last quarter. National Bank of Canada FI grew its position in Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 252 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after buying an additional 277 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FLS. Bank of America upped their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen upped their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada reduced their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Price Performance

FLS opened at $57.47 on Friday. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.28 and a beta of 1.42. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $60.68 and a 200-day moving average price of $55.70. Flowserve Co. has a twelve month low of $41.60 and a twelve month high of $65.08.

Flowserve (NYSE:FLS) last released its quarterly earnings data 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 return on equity of 17.11% and a net margin of 6.20%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Equities analysts expect that Flowserve Co. will post 3.21 EPS for the current year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.46%. Flowserve’s dividend payout ratio (DPR) 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.