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

Williamson Legacy Group LLC grew its position in Flowserve Co. (NYSE:FLS) by 24.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,965 shares of the industrial products company’s stock after purchasing an additional 1,569 shares during the period. Williamson Legacy Group LLC’s holdings in Flowserve were worth $458,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after purchasing an additional 37,132 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Flowserve by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after acquiring an additional 44,039 shares in the last quarter. Geode Capital Management LLC raised its holdings in Flowserve by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock worth $113,851,000 after acquiring an additional 23,529 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Flowserve by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company’s stock worth $90,761,000 after acquiring an additional 4,414 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after acquiring an additional 422,141 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

Shares of NYSE FLS opened at $55.03 on Friday. The business’s 50 day moving average price is $60.22 and its two-hundred day moving average price is $56.05. The company has a market cap of $7.23 billion, a PE ratio of 25.71, a price-to-earnings-growth 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 Co. has a twelve month low of $41.78 and a twelve month high of $65.08.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Citigroup dropped their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and upped their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Mizuho upped their target price on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus upped their target price on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve 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.