Silvercrest Asset Management Group LLC Purchases 75,952 Shares of Flowserve Co. (NYSE:FLS)

Silvercrest Asset Management Group LLC increased its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 849,502 shares of the industrial products company's stock after acquiring an additional 75,952 shares during the period. Silvercrest Asset Management Group LLC owned about 0.65% of Flowserve worth $48,863,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FLS. FIL Ltd boosted its position in shares of Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after acquiring an additional 2,193,904 shares in the last quarter. Norges Bank acquired a new stake in shares of Flowserve during the 4th quarter valued at about $94,629,000. Driehaus Capital Management LLC boosted its position in shares of Flowserve by 307.1% during the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock valued at $108,651,000 after acquiring an additional 1,424,948 shares in the last quarter. Invesco Ltd. boosted its position in Flowserve by 52.7% in the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock valued at $118,953,000 after buying an additional 714,063 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Flowserve by 57.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company's stock valued at $82,859,000 after buying an additional 527,250 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Shares of NYSE FLS traded down $0.22 during trading on Monday, reaching $51.40. The company had a trading volume of 874,769 shares, compared to its average volume of 1,296,564. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a market cap of $6.72 billion, a PE ratio of 24.02, a PEG ratio of 1.35 and a beta of 1.21. The business's 50 day moving average price is $46.56 and its 200-day moving average price is $54.74. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $65.08.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve's dividend payout ratio (DPR) is 39.25%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FLS shares. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Royal Bank of Canada boosted their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Citigroup reduced their price target 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. Mizuho set a $60.00 price target on shares of Flowserve in a research report on Friday. Finally, Robert W. Baird reduced their price target on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $63.00.

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.