10,656 Shares in Flowserve Co. (NYSE:FLS) Bought by Merit Financial Group LLC

Merit Financial Group LLC purchased a new stake in shares of Flowserve Co. (NYSE:FLS) during the fourth quarter, Holdings Channel reports. The firm purchased 10,656 shares of the industrial products company’s stock, valued at approximately $613,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. KPP Advisory Services LLC increased its position in shares of Flowserve by 3.2% during the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after purchasing an additional 215 shares during the last quarter. HighTower Advisors LLC grew its position in Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after acquiring an additional 215 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Flowserve by 4.1% during the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 252 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Flowserve by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after purchasing an additional 277 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Flowserve by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

FLS has been the subject of several analyst reports. Jefferies Financial Group started coverage on shares of Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price target for the company. Mizuho upped their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Finally, Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.10.

Flowserve Trading Down 0.7 %

Shares of Flowserve stock opened at $64.30 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The company has a fifty day moving average of $60.07 and a 200 day moving average of $53.87. The company has a market capitalization of $8.45 billion, a P/E ratio of 31.83, a P/E/G ratio of 1.29 and a beta of 1.42. Flowserve Co. has a fifty-two week low of $39.69 and a fifty-two week high of $65.08.

Flowserve (NYSE:FLS) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Flowserve Co. will post 2.7 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is presently 41.58%.

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.