Ieq Capital LLC Acquires 111,807 Shares of Flowserve Co. (NYSE:FLS)

Ieq Capital LLC increased its holdings in shares of Flowserve Co. (NYSE:FLS) by 1,922.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,624 shares of the industrial products company’s stock after buying an additional 111,807 shares during the period. Ieq Capital LLC owned about 0.09% of Flowserve worth $6,766,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FLS. True Wealth Design LLC acquired a new position in shares of Flowserve during the third quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in Flowserve during the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve during the 3rd quarter worth about $29,000. Allworth Financial LP grew its position in shares of Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after buying an additional 403 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after buying an additional 278 shares during the period. 93.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on FLS shares. Bank of America upped their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday. Mizuho lifted their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. Robert W. Baird upped their price target on shares of Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Citigroup lowered their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Stock Performance

Shares of FLS opened at $57.47 on Friday. Flowserve Co. has a one year low of $41.60 and a one year high of $65.08. The company has a market cap of $7.55 billion, a PE ratio of 26.86, a P/E/G ratio of 1.28 and a beta of 1.42. The stock has a 50-day moving average of $60.68 and a 200-day moving average of $55.70. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.11%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, equities research analysts predict that Flowserve Co. will post 3.21 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.46%. Flowserve’s payout ratio is 39.25%.

Flowserve Company 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.