Flowserve Co. (NYSE:FLS) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC raised its holdings in shares of Flowserve Co. (NYSE:FLS) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,000 shares of the industrial products company’s stock after acquiring an additional 3,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Flowserve were worth $1,150,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC acquired a new position in shares of Flowserve during the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Flowserve during the 3rd quarter worth about $29,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the 3rd quarter worth about $29,000. Allworth Financial LP boosted 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 acquiring an additional 403 shares in the last quarter. Finally, UMB Bank n.a. boosted 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 valued at $41,000 after purchasing an additional 278 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and upped their target price for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Royal Bank of Canada decreased their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday. Mizuho upped their target price on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen upped 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. Finally, Bank of America upped their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Stock Down 3.6 %

Flowserve stock opened at $55.38 on Friday. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.35 and a beta of 1.42. The stock has a 50 day moving average of $60.57 and a two-hundred day moving average of $55.85. Flowserve Co. has a twelve month low of $41.60 and a twelve month high of $65.08. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) 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.