3,974 Shares in Flowserve Co. (NYSE:FLS) Bought by OLD National Bancorp IN

OLD National Bancorp IN purchased a new stake in Flowserve Co. (NYSE:FLS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,974 shares of the industrial products company’s stock, valued at approximately $229,000.

A number of other hedge funds also recently made changes to their positions in FLS. True Wealth Design LLC acquired a new stake in Flowserve during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in Flowserve during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve in the third quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Flowserve during the 3rd quarter worth approximately $29,000. Finally, Allworth Financial LP grew its position in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

Shares of FLS stock opened at $62.66 on Monday. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.25 and a beta of 1.42. The stock has a fifty day moving average of $60.42 and a 200 day moving average of $54.58. Flowserve Co. has a 52 week low of $39.69 and a 52 week high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. Flowserve’s dividend payout ratio (DPR) is currently 41.58%.

Analyst Ratings Changes

A number of brokerages recently commented on FLS. TD Cowen boosted their target price on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup lowered their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus boosted their price target on shares of Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Jefferies Financial Group started coverage on shares of Flowserve in a research note on Friday, October 18th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Mizuho boosted their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and an average price target of $67.50.

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.