Algert Global LLC Raises Position in Flowserve Co. (NYSE:FLS)

Algert Global LLC increased its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 66.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,263 shares of the industrial products company's stock after buying an additional 72,184 shares during the quarter. Algert Global LLC owned 0.14% of Flowserve worth $10,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its stake in shares of Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after acquiring an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve during the 3rd quarter worth approximately $29,000. UMB Bank n.a. increased its stake in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 278 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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. Finally, Quadrant Capital Group LLC raised its holdings in shares of Flowserve by 34.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after buying an additional 275 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on FLS. Mizuho upped their target price on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Citigroup cut their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Royal Bank of Canada increased their price target on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, StockNews.com raised shares of Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $64.11.

Flowserve Stock Up 3.0 %

FLS stock opened at $47.54 on Friday. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The firm's fifty day moving average is $46.80 and its 200 day moving average is $55.03. The firm has a market cap of $6.21 billion, a PE ratio of 22.22, a P/E/G ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. On average, research analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. Flowserve's dividend payout ratio (DPR) is 39.25%.

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.

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