Flowserve Co. (NYSE:FLS) Shares Acquired by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lifted its stake in shares of Flowserve Co. (NYSE:FLS) by 55.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,541 shares of the industrial products company’s stock after acquiring an additional 7,357 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Flowserve were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quintet Private Bank Europe S.A. purchased a new stake in Flowserve during the 4th quarter worth about $63,000. Bailard Inc. increased its stake in shares of Flowserve by 3.9% during the fourth quarter. Bailard Inc. now owns 13,195 shares of the industrial products company’s stock worth $759,000 after buying an additional 500 shares during the period. Williamson Legacy Group LLC raised its holdings in Flowserve by 24.5% in the fourth quarter. Williamson Legacy Group LLC now owns 7,965 shares of the industrial products company’s stock valued at $458,000 after acquiring an additional 1,569 shares in the last quarter. US Bancorp DE lifted its stake in Flowserve by 5.3% in the fourth quarter. US Bancorp DE now owns 5,722 shares of the industrial products company’s stock worth $329,000 after acquiring an additional 289 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Flowserve by 28.5% during the 4th quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company’s stock worth $42,876,000 after acquiring an additional 165,449 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Shares of NYSE FLS opened at $50.37 on Wednesday. The stock has a 50 day moving average of $60.05 and a two-hundred day moving average of $56.28. The stock has a market cap of $6.64 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.35 and a beta of 1.42. Flowserve Co. has a twelve month low of $41.94 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 quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, research analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of analyst reports. TD Cowen raised their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Robert W. Baird raised their price target on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Mizuho upped their price objective on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Stifel Nicolaus raised their target price on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, 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 note on Thursday, February 20th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

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.