Pictet Asset Management Holding SA Boosts Position in Flowserve Co. (NYSE:FLS)

Pictet Asset Management Holding SA grew its holdings in shares of Flowserve Co. (NYSE:FLS) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,752 shares of the industrial products company’s stock after buying an additional 1,581 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Flowserve were worth $1,079,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. New Age Alpha Advisors LLC acquired a new stake in Flowserve in the 4th quarter valued at $422,000. Norges Bank acquired a new position in shares of Flowserve during the fourth quarter worth about $94,629,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Flowserve in the fourth quarter worth about $897,000. Loomis Sayles & Co. L P purchased a new stake in shares of Flowserve during the 4th quarter valued at about $23,614,000. Finally, JPMorgan Chase & Co. lifted its position in Flowserve by 22.0% during the 4th quarter. JPMorgan Chase & Co. now owns 353,387 shares of the industrial products company’s stock worth $20,327,000 after acquiring an additional 63,686 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the subject of several recent research reports. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Robert W. Baird raised shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a research note on Monday, March 17th. Mizuho upped their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, TD Cowen raised their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Stock Performance

Flowserve stock opened at $40.07 on Monday. 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 Co. has a 12 month low of $38.23 and a 12 month high of $65.08. The company has a fifty day moving average price of $54.75 and a two-hundred day moving average price of $56.54. The company has a market cap of $5.28 billion, a PE ratio of 18.72, a P/E/G ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS) last posted its quarterly 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). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

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.