Flowserve Co. (NYSE:FLS) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its stake in Flowserve Co. (NYSE:FLS - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,714 shares of the industrial products company's stock after buying an additional 6,241 shares during the period. Price T Rowe Associates Inc. MD owned 0.07% of Flowserve worth $5,219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its position in shares of Flowserve by 17.8% in the 3rd quarter. Barclays PLC now owns 229,379 shares of the industrial products company's stock worth $11,857,000 after purchasing an additional 34,645 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Flowserve during the third quarter valued at approximately $227,000. Wilmington Savings Fund Society FSB purchased a new position in Flowserve in the 3rd quarter worth approximately $29,000. Franklin Resources Inc. lifted its position in Flowserve by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company's stock valued at $3,909,000 after acquiring an additional 5,127 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 290 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Price Performance

NYSE FLS traded up $0.10 during trading hours on Wednesday, reaching $46.74. The company's stock had a trading volume of 953,838 shares, compared to its average volume of 1,278,226. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 1.35 and a beta of 1.21. The firm's 50-day moving average price is $46.32 and its 200-day moving average price is $54.87.

Flowserve (NYSE:FLS - Get Free Report) last released 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The company's quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Friday, March 28th. Flowserve's payout ratio is currently 39.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FLS. Mizuho raised 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. StockNews.com upgraded shares of Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. TD Cowen increased their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Royal Bank of Canada raised their target price on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average 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.