First Trust Advisors LP Purchases 80,138 Shares of Flowserve Co. (NYSE:FLS)

First Trust Advisors LP grew its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 73.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,696 shares of the industrial products company's stock after buying an additional 80,138 shares during the quarter. First Trust Advisors LP owned 0.14% of Flowserve worth $10,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FLS. Arizona State Retirement System increased its stake 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 acquiring an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Flowserve by 0.9% during 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 increased its holdings in shares of Flowserve by 0.4% during 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 holdings 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 in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 278 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Trading Down 0.4 %

Shares of Flowserve stock opened at $44.64 on Tuesday. The company has a fifty day simple moving average of $47.58 and a 200-day simple moving average of $55.28. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $65.08. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. On average, equities analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, March 28th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FLS shares. Stifel Nicolaus lowered their price objective on Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Robert W. Baird upgraded shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 target price on the stock in a report on Monday, March 17th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. TD Cowen upped their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada cut their target price on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.30.

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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