16,163 Shares in Flowserve Co. (NYSE:FLS) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of Flowserve Co. (NYSE:FLS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,163 shares of the industrial products company’s stock, valued at approximately $930,000.

Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Flowserve by 46.6% in the third 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 in the last quarter. Prospera Financial Services Inc lifted its position 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. lifted its position 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 acquiring an additional 277 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Flowserve by 34.0% in 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. Finally, Charles Schwab Investment Management Inc. increased its stake in Flowserve by 0.3% in the 3rd 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. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Down 1.5 %

Shares of NYSE FLS opened at $50.65 on Friday. The firm has a market cap of $6.67 billion, a PE ratio of 23.67, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 12-month low of $43.66 and a 12-month high of $65.08. The company’s fifty day simple moving average is $57.54 and its 200 day simple moving average is $56.25. 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 (NYSE:FLS) last released its quarterly earnings data 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 business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, sell-side analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal 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 1.66%. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLS. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective on the stock in a research note on Monday, March 17th. TD Cowen boosted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada cut their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

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.