UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Flowserve Co. (NYSE:FLS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 62.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 599,483 shares of the industrial products company's stock after buying an additional 231,397 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.46% of Flowserve worth $34,482,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Arizona State Retirement System grew its position in Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock worth $2,193,000 after purchasing an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Flowserve by 0.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock valued at $1,527,000 after acquiring an additional 236 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Flowserve by 0.4% in the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock valued at $3,541,000 after acquiring an additional 251 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 275 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Flowserve by 5.3% during the fourth quarter. US Bancorp DE now owns 5,722 shares of the industrial products company's stock worth $329,000 after acquiring an additional 289 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLS has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised shares of Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Mizuho set a $60.00 price target on shares of Flowserve in a research report on Friday, May 16th. Royal Bank of Canada upped their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus boosted their price target 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. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Flowserve has a consensus rating of "Buy" and an average target price of $63.00.

Flowserve Price Performance

FLS stock traded down $0.56 during midday trading on Friday, reaching $49.96. The company had a trading volume of 1,112,739 shares, compared to its average volume of 1,300,958. 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 1 year low of $37.34 and a 1 year high of $65.08. The company has a market capitalization of $6.53 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.35 and a beta of 1.21. The firm has a 50-day moving average price of $46.46 and a 200-day moving average price of $54.24.

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

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.68%. 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.