Flowserve Corporation (NYSE:FLS) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,954,365 shares of the industrial products company's stock after purchasing an additional 122,161 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.48% of Flowserve worth $95,451,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FLS. Proficio Capital Partners LLC acquired a new stake in shares of Flowserve during the 4th quarter valued at about $930,000. Raymond James Financial Inc. acquired a new stake in shares of Flowserve during the 4th quarter valued at about $14,546,000. EverSource Wealth Advisors LLC grew its position in shares of Flowserve by 185.9% during the 4th 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. Avantax Advisory Services Inc. acquired a new stake in Flowserve in the 4th quarter worth about $278,000. Finally, Swiss National Bank boosted its holdings in Flowserve by 0.5% in the 4th quarter. Swiss National Bank now owns 258,400 shares of the industrial products company's stock worth $14,863,000 after buying an additional 1,200 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FLS shares. Royal Bank Of Canada lifted their price objective on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Robert W. Baird reduced their price target on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Mizuho set a $60.00 target price on Flowserve in a research report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Flowserve has an average rating of "Buy" and an average target price of $63.00.

Flowserve Stock Up 0.0%

Shares of NYSE:FLS traded up $0.01 during trading on Friday, hitting $54.76. The company's stock had a trading volume of 1,578,000 shares, compared to its average volume of 1,617,150. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07. The business has a 50 day moving average price of $50.54 and a two-hundred day moving average price of $51.97. The company has a market capitalization of $7.16 billion, a PE ratio of 25.59, a P/E/G ratio of 1.21 and a beta of 1.25. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the company earned $0.58 earnings per share. Flowserve's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. Flowserve's dividend payout ratio is presently 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.