OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $7.48 Million Position in Flowserve Co. (NYSE:FLS)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 130,000 shares of the industrial products company's stock, valued at approximately $7,478,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of Flowserve at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLS. Headlands Technologies LLC boosted its position in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after buying an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve during the third quarter worth $29,000. Colonial Trust Co SC lifted its holdings in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after acquiring an additional 478 shares during the last quarter. UMB Bank n.a. boosted its holdings in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 278 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after acquiring an additional 595 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

Shares of FLS traded up $0.52 during midday trading on Friday, reaching $51.60. The stock had a trading volume of 1,701,566 shares, compared to its average volume of 1,295,684. The firm has a 50 day simple moving average of $46.50 and a 200-day simple moving average of $54.74. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08. The firm has a market cap of $6.75 billion, a PE ratio of 24.11, a P/E/G ratio of 1.35 and a beta of 1.21. 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 (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the firm earned $0.58 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.63%. Flowserve's payout ratio is presently 39.25%.

Analyst Ratings Changes

FLS has been the topic of a number of recent analyst reports. Citigroup dropped their target price on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. TD Cowen increased their price objective 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. StockNews.com upgraded Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Stifel Nicolaus increased their price objective on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Robert W. Baird dropped their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Flowserve presently has a consensus rating of "Buy" and a consensus price target of $64.11.

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.