Cascade Investment Advisors Inc. Takes $718,000 Position in Flowserve Co. (NYSE:FLS)

Cascade Investment Advisors Inc. purchased a new position in Flowserve Co. (NYSE:FLS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,695 shares of the industrial products company's stock, valued at approximately $718,000.

Several other large investors have also modified their holdings of FLS. Headlands Technologies LLC grew its stake in Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 479 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Flowserve during the 4th quarter valued at approximately $33,000. Colonial Trust Co SC increased its position in Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after buying an additional 478 shares during the period. True Wealth Design LLC lifted its holdings in shares of Flowserve by 80.1% during the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after buying an additional 394 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position 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 valued at $53,000 after acquiring an additional 595 shares during the period. 93.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on FLS shares. Stifel Nicolaus boosted their price objective on Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup decreased their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. Robert W. Baird decreased their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flowserve has a consensus rating of "Buy" and a consensus price target of $63.00.

Flowserve Price Performance

Flowserve stock traded down $0.12 during mid-day trading on Thursday, reaching $47.30. 2,406,635 shares of the company were exchanged, compared to its average volume of 1,336,801. The company has a fifty day simple moving average of $46.40 and a 200-day simple moving average of $54.07. The firm has a market cap of $6.18 billion, a PE ratio of 22.10, a PEG ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve's payout ratio is 39.25%.

Flowserve Company 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.