Ethic Inc. Has $950,000 Stock Position in Flowserve Co. (NYSE:FLS)

Ethic Inc. lifted its holdings in shares of Flowserve Co. (NYSE:FLS) by 16.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,523 shares of the industrial products company’s stock after purchasing an additional 2,301 shares during the quarter. Ethic Inc.’s holdings in Flowserve were worth $950,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC increased its stake in shares of Flowserve by 4,790.0% during the 4th 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 last quarter. Colonial Trust Co SC increased its stake in shares of Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 478 shares during the last quarter. UMB Bank n.a. increased its stake 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 purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock worth $62,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 14th. TD Cowen increased their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Mizuho increased their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. StockNews.com raised shares of Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada increased their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $64.11.

Flowserve Trading Up 2.6%

Shares of FLS stock opened at $52.14 on Wednesday. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $65.08. The company has a market capitalization of $6.82 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.35 and a beta of 1.21. The firm has a 50-day moving average price of $46.25 and a 200 day moving average price of $54.79. 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, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, March 28th. Flowserve’s dividend payout ratio is presently 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.