J. Safra Sarasin Holding AG Grows Stock Position in Flowserve Co. (NYSE:FLS)

J. Safra Sarasin Holding AG raised its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 40.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,724 shares of the industrial products company's stock after buying an additional 6,309 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Flowserve were worth $1,250,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. New York Life Investment Management LLC acquired a new stake in shares of Flowserve during the 4th quarter worth about $800,000. American Century Companies Inc. increased its holdings in shares of Flowserve by 25.9% during the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock worth $6,384,000 after buying an additional 22,850 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Flowserve in the 4th quarter worth approximately $422,000. Commonwealth Equity Services LLC grew its position in Flowserve by 103.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock worth $1,197,000 after acquiring an additional 10,557 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock worth $104,000 after acquiring an additional 290 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Price Performance

Flowserve stock traded down $0.22 during mid-day trading on Monday, reaching $44.61. The company had a trading volume of 424,179 shares, compared to its average volume of 1,270,035. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The business has a fifty day simple moving average of $47.86 and a 200 day simple moving average of $55.35. 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 company has a market cap of $5.87 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.35 and a beta of 1.22.

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

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.88%. Flowserve's dividend payout ratio is currently 39.25%.

Wall Street Analyst Weigh In

FLS has been the topic of several research reports. Mizuho upped their price objective on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Robert W. Baird upgraded Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective for the company in a research report on Monday, March 17th. TD Cowen upped their target price 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, Royal Bank of Canada lowered their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.30.

Flowserve Company 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.