Stifel Financial Corp Boosts Holdings in Flowserve Co. (NYSE:FLS)

Stifel Financial Corp boosted its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 260,007 shares of the industrial products company's stock after purchasing an additional 15,868 shares during the quarter. Stifel Financial Corp owned about 0.20% of Flowserve worth $14,956,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC raised its stake in Flowserve by 4,790.0% during 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 bought a new position in shares of Flowserve during the third quarter valued at $29,000. UMB Bank n.a. raised its position in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after purchasing an additional 595 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 275 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FLS shares. Citigroup cut their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Robert W. Baird reduced their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday. StockNews.com raised Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $64.11.

Flowserve Stock Performance

Shares of Flowserve stock traded up $1.52 on Friday, hitting $47.68. 403,686 shares of the company's stock were exchanged, compared to its average volume of 1,278,906. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08. The company has a 50-day simple moving average of $46.94 and a 200-day simple moving average of $55.08. The stock has a market capitalization of $6.28 billion, a PE ratio of 22.28, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.76%. Flowserve's payout ratio is 39.25%.

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.