Quintet Private Bank Europe S.A. Invests $63,000 in Flowserve Co. (NYSE:FLS)

Quintet Private Bank Europe S.A. purchased a new position in Flowserve Co. (NYSE:FLS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,100 shares of the industrial products company’s stock, valued at approximately $63,000.

Several other institutional investors also recently modified their holdings of the business. KPP Advisory Services LLC increased its stake in shares of Flowserve by 3.2% in the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 215 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Flowserve by 0.6% in the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after acquiring an additional 215 shares in the last quarter. Savant Capital LLC increased its stake in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after acquiring an additional 251 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Flowserve by 4.1% in the 3rd 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. Finally, PNC Financial Services Group Inc. increased its stake in shares of Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after acquiring an additional 277 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

Shares of FLS stock opened at $52.67 on Tuesday. The company has a 50 day moving average price of $60.16 and a 200-day moving average price of $56.25. Flowserve Co. has a 52 week low of $41.94 and a 52 week high of $65.08. The firm has a market capitalization of $6.94 billion, a PE ratio of 24.61, a P/E/G ratio of 1.35 and a beta of 1.42. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Mizuho raised their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Citigroup reduced their price objective 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

About Flowserve

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.