Poinciana Advisors Group LLC Acquires New Position in Flowserve Co. (NYSE:FLS)

Poinciana Advisors Group LLC acquired a new stake in shares of Flowserve Co. (NYSE:FLS) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 5,056 shares of the industrial products company’s stock, valued at approximately $291,000.

A number of other hedge funds also recently made changes to their positions in FLS. True Wealth Design LLC bought a new position in shares of Flowserve during the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve during the 3rd quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Flowserve during the 3rd quarter valued at approximately $29,000. UMB Bank n.a. grew its stake in shares of Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 278 shares during the period. Finally, Canton Hathaway LLC purchased a new position in Flowserve in the 3rd quarter worth approximately $42,000. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FLS has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Citigroup lowered their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada lowered their price target on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Stock Up 2.9 %

Shares of FLS opened at $49.00 on Friday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 1 year low of $43.66 and a 1 year high of $65.08. The business’s 50 day simple moving average is $58.55 and its 200-day simple moving average is $56.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

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

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio is currently 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.