Cerity Partners LLC Increases Stock Holdings in Flowserve Co. (NYSE:FLS)

Cerity Partners LLC boosted its position in shares of Flowserve Co. (NYSE:FLS) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,304 shares of the industrial products company’s stock after purchasing an additional 6,717 shares during the period. Cerity Partners LLC’s holdings in Flowserve were worth $3,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New York Life Investment Management LLC purchased a new stake in shares of Flowserve during the 4th quarter valued at approximately $800,000. GAMMA Investing LLC increased its stake in Flowserve by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 290 shares during the last quarter. American Century Companies Inc. raised its position in Flowserve by 25.9% in the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock valued at $6,384,000 after purchasing an additional 22,850 shares during the period. Cookson Peirce & Co. Inc. lifted its stake in shares of Flowserve by 55.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 20,541 shares of the industrial products company’s stock valued at $1,182,000 after purchasing an additional 7,357 shares during the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Flowserve in the 4th quarter valued at $278,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. TD Cowen lifted their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Mizuho boosted their target price on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada dropped their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Performance

Shares of Flowserve stock opened at $42.23 on Monday. The business has a 50-day simple moving average of $51.93 and a 200-day simple moving average of $56.08. 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 Co. has a one year low of $37.34 and a one year high of $65.08. The company has a market cap of $5.56 billion, a PE ratio of 19.73, a P/E/G ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities research analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

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. This represents a $0.84 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, March 28th. Flowserve’s dividend payout ratio is presently 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.