Marshall Wace LLP Boosts Stock Position in Flowserve Co. (NYSE:FLS)

Marshall Wace LLP lifted its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 1,625.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 354,126 shares of the industrial products company's stock after buying an additional 333,600 shares during the period. Marshall Wace LLP owned 0.27% of Flowserve worth $20,369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FLS. Arizona State Retirement System raised its position in shares of Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock valued at $2,193,000 after purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Flowserve by 0.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after buying an additional 236 shares in the last quarter. Savant Capital LLC increased its position in shares of Flowserve by 0.4% during the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock worth $3,541,000 after purchasing an additional 251 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Flowserve by 34.6% in 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, UMB Bank n.a. boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FLS shares. Citigroup lowered their target price on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th. StockNews.com cut Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Royal Bank of Canada lowered their price target on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, TD Cowen upped their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and an average target price of $64.30.

Flowserve Stock Up 0.4 %

FLS traded up $0.19 during trading on Friday, reaching $44.81. The stock had a trading volume of 312,221 shares, compared to its average volume of 1,575,562. The stock's 50 day moving average is $48.23 and its two-hundred day moving average is $55.39. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, analysts expect that Flowserve Co. will post 3.18 earnings per share for the current 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. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.87%. Flowserve's dividend payout ratio is currently 39.25%.

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.