Flowserve Co. (NYSE:FLS) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI boosted its stake in Flowserve Co. (NYSE:FLS - Free Report) by 2,429.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,843 shares of the industrial products company's stock after purchasing an additional 62,279 shares during the quarter. National Bank of Canada FI's holdings in Flowserve were worth $2,627,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FLS. Contravisory Investment Management Inc. bought a new position in shares of Flowserve in the fourth quarter worth about $26,000. USA Financial Formulas acquired a new position in shares of Flowserve during the third quarter worth $107,000. Panagora Asset Management Inc. bought a new stake in shares of Flowserve in the third quarter worth $201,000. Blair William & Co. IL acquired a new stake in Flowserve in the third quarter valued at $211,000. Finally, JB Capital LLC bought a new position in Flowserve during the 4th quarter worth $233,000. Institutional investors own 93.93% of the company's stock.

Flowserve Stock Down 0.7 %

Shares of FLS stock traded down $0.34 on Monday, hitting $49.25. The stock had a trading volume of 667,415 shares, compared to its average volume of 1,128,402. Flowserve Co. has a 12-month low of $32.49 and a 12-month high of $49.83. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The business has a 50 day moving average of $46.09 and a 200 day moving average of $42.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business's revenue was up 10.9% on a year-over-year basis. As a group, analysts expect that Flowserve Co. will post 2.64 EPS for the current year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.21 dividend. This is a boost from Flowserve's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Wednesday, March 27th. Flowserve's dividend payout ratio is presently 47.46%.

Wall Street Analyst Weigh In

FLS has been the topic of a number of analyst reports. StockNews.com upgraded Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 5th. UBS Group boosted 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. Royal Bank of Canada increased their price target on Flowserve from $43.00 to $46.00 and gave the stock a "sector perform" rating in a report on Thursday, February 22nd. TD Cowen boosted their price objective on Flowserve from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird raised their target price on Flowserve from $50.00 to $57.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. One investment 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. According to data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and an average price target of $51.55.

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.