DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Purchases 17,595 Shares of Flowserve Co. (NYSE:FLS)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 101.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 34,990 shares of the industrial products company's stock after purchasing an additional 17,595 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Flowserve were worth $2,013,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FLS. Headlands Technologies LLC boosted its position in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after buying an additional 479 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Flowserve in the third quarter valued at approximately $29,000. Colonial Trust Co SC raised its holdings in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after purchasing an additional 478 shares during the period. UMB Bank n.a. raised its holdings in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after purchasing an additional 278 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 595 shares during the period. Institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

Shares of NYSE:FLS traded down $0.03 during midday trading on Wednesday, hitting $52.08. The stock had a trading volume of 1,382,199 shares, compared to its average volume of 1,288,138. The company's 50-day moving average price is $46.32 and its 200-day moving average price is $54.77. The company has a market capitalization of $6.81 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. 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 released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.13. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 EPS. As a group, equities research analysts predict 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. Shareholders of record on Friday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, March 28th. Flowserve's payout ratio is 39.25%.

Analyst Ratings Changes

Several equities research analysts have issued reports on FLS shares. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. StockNews.com upgraded shares of Flowserve from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Citigroup lowered their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. TD Cowen lifted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Robert W. Baird decreased their price objective on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One research 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $64.11.

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.