Williamson Legacy Group LLC Acquires 1,569 Shares of Flowserve Co. (NYSE:FLS)

Williamson Legacy Group LLC raised its holdings in Flowserve Co. (NYSE:FLS) by 24.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,965 shares of the industrial products company’s stock after purchasing an additional 1,569 shares during the quarter. Williamson Legacy Group LLC’s holdings in Flowserve were worth $458,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FLS. True Wealth Design LLC acquired a new stake in shares of Flowserve in the 3rd quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Flowserve in the 3rd quarter valued at $29,000. Allworth Financial LP increased its stake in shares of 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 buying an additional 403 shares during the period. Finally, UMB Bank n.a. increased its stake 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 buying an additional 278 shares during the period. Institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. TD Cowen lifted their target price on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Stifel Nicolaus lifted their price objective on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Citigroup decreased their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Up 1.2 %

NYSE:FLS opened at $55.03 on Friday. Flowserve Co. has a 1 year low of $41.78 and a 1 year 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. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.35 and a beta of 1.42. The stock has a 50-day moving average price of $60.22 and a two-hundred day moving average price of $56.05.

Flowserve (NYSE:FLS) last posted 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). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, equities analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.53%. Flowserve’s payout ratio 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.