Flowserve Co. (NYSE:FLS) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its position in Flowserve Co. (NYSE:FLS - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,125,737 shares of the industrial products company's stock after buying an additional 219,561 shares during the quarter. Northern Trust Corp owned about 0.86% of Flowserve worth $64,752,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FLS. Headlands Technologies LLC lifted its holdings in Flowserve by 4,790.0% in 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve in the 3rd quarter worth approximately $29,000. UMB Bank n.a. lifted its stake in 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 purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Flowserve by 185.9% during 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 in the last quarter. Finally, Quadrant Capital Group LLC grew its position in 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. Institutional investors own 93.93% of the company's stock.

Analysts Set New Price Targets

FLS has been the subject of several research reports. Mizuho raised their price objective on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Robert W. Baird decreased their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Citigroup cut their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Flowserve presently has a consensus rating of "Buy" and a consensus price target of $64.11.

Flowserve Trading Down 1.0 %

NYSE:FLS opened at $46.75 on Wednesday. The company has a market capitalization of $6.11 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.35 and a beta of 1.21. The stock's 50 day moving average price is $46.49 and its 200 day moving average price is $54.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last released 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. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Flowserve's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. On average, research analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.80%. Flowserve's payout ratio 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.

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