International Assets Investment Management LLC Invests $3.70 Million in Flowserve Co. (NYSE:FLS)

International Assets Investment Management LLC purchased a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 89,635 shares of the industrial products company's stock, valued at approximately $3,695,000. International Assets Investment Management LLC owned approximately 0.07% of Flowserve as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FLS. Contravisory Investment Management Inc. purchased a new stake in shares of Flowserve in the fourth quarter valued at approximately $26,000. USA Financial Formulas acquired a new position in shares of Flowserve during the 3rd quarter worth $107,000. Panagora Asset Management Inc. purchased a new position in shares of Flowserve in the 3rd quarter valued at about $201,000. Blair William & Co. IL purchased a new position in shares of Flowserve in the 3rd quarter valued at about $211,000. Finally, Pathstone Family Office LLC purchased a new stake in Flowserve during the third quarter worth about $229,000. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Trading Up 0.5 %

Shares of FLS traded up $0.24 on Friday, hitting $49.59. 833,153 shares of the stock traded hands, compared to its average volume of 1,199,592. Flowserve Co. has a 1 year low of $32.49 and a 1 year high of $49.82. The stock's 50 day moving average is $46.09 and its two-hundred day moving average is $41.96. The firm has a market capitalization of $6.53 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.26 and a beta of 1.42. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. As a group, sell-side analysts predict that Flowserve Co. will post 2.62 earnings per share for the current year.

Flowserve Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.21 per share. This is a positive change from Flowserve's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve's dividend payout ratio is presently 47.46%.

Analyst Ratings Changes

FLS has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of Flowserve from $50.00 to $57.00 and gave the company a "neutral" rating in a report on Wednesday, May 1st. TD Cowen lifted their price objective on Flowserve from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, May 2nd. Stifel Nicolaus upped their target price on Flowserve from $53.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. Royal Bank of Canada lifted their price target on Flowserve from $43.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 22nd. Finally, UBS Group raised their target price on shares of Flowserve from $46.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and a consensus target price of $51.55.

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.