Silvercrest Asset Management Group LLC Purchases 75,952 Shares of Flowserve Co. (NYSE:FLS)

Silvercrest Asset Management Group LLC boosted its position in shares of Flowserve Co. (NYSE:FLS) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 849,502 shares of the industrial products company’s stock after purchasing an additional 75,952 shares during the period. Silvercrest Asset Management Group LLC owned about 0.65% of Flowserve worth $48,863,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FLS. Barclays PLC boosted its stake in shares of Flowserve by 17.8% during the 3rd quarter. Barclays PLC now owns 229,379 shares of the industrial products company’s stock worth $11,857,000 after buying an additional 34,645 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Flowserve by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock worth $3,909,000 after buying an additional 5,127 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Flowserve during the 4th quarter worth about $313,000. USA Financial Formulas acquired a new position in shares of Flowserve during the 4th quarter worth about $295,000. Finally, Connective Portfolio Management LLC acquired a new position in shares of Flowserve during the 4th quarter worth about $1,564,000. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

FLS has been the subject of a number of recent research reports. StockNews.com upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada raised their target price on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Mizuho raised their target price 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. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $64.11.

Flowserve Stock Down 1.8%

Shares of FLS opened at $51.17 on Friday. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08. The firm’s 50 day moving average is $46.41 and its 200-day moving average is $54.76. The stock has a market capitalization of $6.69 billion, a PE ratio of 23.91, a P/E/G ratio of 1.35 and a beta of 1.21. 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 announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping 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 company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $0.58 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company 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. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.64%. Flowserve’s payout ratio is 39.25%.

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.