Pacer Advisors Inc. Has $2.02 Million Stock Position in Flowserve Co. (NYSE:FLS)

Pacer Advisors Inc. lifted its holdings in shares of Flowserve Co. (NYSE:FLS) by 30.5% in the 4th quarter, HoldingsChannel reports. The fund owned 35,049 shares of the industrial products company’s stock after purchasing an additional 8,182 shares during the period. Pacer Advisors Inc.’s holdings in Flowserve were worth $2,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. True Wealth Design LLC bought a new stake in Flowserve in the 3rd quarter worth about $25,000. V Square Quantitative Management LLC purchased a new position in Flowserve in the 3rd quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in Flowserve in the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Flowserve in the 3rd quarter valued at $29,000. Finally, Allworth Financial LP boosted its holdings in 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 purchasing an additional 403 shares during the period. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Performance

Shares of NYSE FLS opened at $62.66 on Friday. The firm has a fifty day moving average price of $60.42 and a 200-day moving average price of $54.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The stock has a market cap of $8.23 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. Flowserve Co. has a 1 year low of $39.69 and a 1 year high of $65.08.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.21 per share. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. Flowserve’s dividend payout ratio is 41.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, January 24th. TD Cowen boosted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Bank of America boosted their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.50.

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.