Brown Advisory Inc. Has $32.18 Million Stock Holdings in Flowserve Co. (NYSE:FLS)

Brown Advisory Inc. trimmed its stake in shares of Flowserve Co. (NYSE:FLS) by 38.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 559,460 shares of the industrial products company’s stock after selling 344,038 shares during the quarter. Brown Advisory Inc.’s holdings in Flowserve were worth $32,180,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FLS. Headlands Technologies LLC lifted its position in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 479 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve during the 3rd quarter worth approximately $29,000. UMB Bank n.a. boosted its position 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 worth $41,000 after acquiring an additional 278 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 275 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Trading Down 0.5 %

FLS opened at $47.23 on Tuesday. The company’s 50 day moving average price is $46.64 and its two-hundred day moving average price is $54.98. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.35 and a beta of 1.21. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. 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 posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Flowserve’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.78%. The ex-dividend date was Friday, March 28th. Flowserve’s payout ratio is presently 39.25%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FLS shares. TD Cowen lifted their price target on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Mizuho increased their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Stifel Nicolaus lifted their price target on shares of Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Robert W. Baird dropped their price objective on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $64.11.

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.