Mercer Global Advisors Inc. ADV Takes $466,000 Position in Flowserve Co. (NYSE:FLS)

Mercer Global Advisors Inc. ADV purchased a new stake in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,099 shares of the industrial products company's stock, valued at approximately $466,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its stake in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 479 shares during the period. UMB Bank n.a. raised its stake in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after acquiring an additional 278 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after purchasing an additional 595 shares during the period. Quadrant Capital Group LLC increased 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 worth $62,000 after purchasing an additional 275 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. purchased a new stake in Flowserve in the 4th quarter worth $63,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLS has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Mizuho increased their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Stifel Nicolaus raised their price objective on Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. TD Cowen boosted 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, Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $64.11.

Flowserve Stock Performance

FLS opened at $52.14 on Wednesday. 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 firm has a 50 day moving average of $46.25 and a two-hundred day moving average of $54.79. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $65.08. The firm has a market capitalization of $6.82 billion, a PE ratio of 24.36, a P/E/G ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. On average, analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders 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 annualized dividend and a dividend yield of 1.61%. Flowserve's dividend payout ratio (DPR) is 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.

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