Alps Advisors Inc. acquired a new stake in shares of Flowserve Corp (NYSE:FLS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 16,361 shares of the industrial products company’s stock, valued at approximately $622,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Flowserve by 105.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 896,674 shares of the industrial products company’s stock worth $49,039,000 after buying an additional 459,453 shares during the period. 1060 Capital LLC bought a new stake in Flowserve during the 3rd quarter worth approximately $19,142,000. Morgan Stanley increased its holdings in Flowserve by 218.7% during the 3rd quarter. Morgan Stanley now owns 494,876 shares of the industrial products company’s stock worth $27,065,000 after purchasing an additional 339,612 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Flowserve by 10,159.9% in the 3rd quarter. Federated Investors Inc. PA now owns 286,868 shares of the industrial products company’s stock worth $15,689,000 after buying an additional 284,072 shares during the last quarter. Finally, Scopus Asset Management L.P. boosted its stake in shares of Flowserve by 126.3% in the 3rd quarter. Scopus Asset Management L.P. now owns 302,177 shares of the industrial products company’s stock worth $16,526,000 after buying an additional 168,677 shares during the last quarter.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded Flowserve from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Oppenheimer reaffirmed a “hold” rating on shares of Flowserve in a report on Sunday, November 11th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Flowserve in a report on Thursday, November 8th. Robert W. Baird reduced their target price on Flowserve from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, November 12th. Finally, DA Davidson increased their target price on Flowserve to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 9th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $48.85.
The company also recently declared a quarterly dividend, which was paid on Friday, January 18th. Investors of record on Friday, January 4th were issued a dividend of $0.19 per share. The ex-dividend date was Thursday, January 3rd. This represents a $0.76 annualized dividend and a yield of 1.63%. Flowserve’s payout ratio is 55.88%.
Flowserve Company Profile
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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