Mercer Global Advisors Inc. ADV Buys Shares of 8,099 Flowserve Co. (NYSE:FLS)

Mercer Global Advisors Inc. ADV purchased a new position in shares of Flowserve Co. (NYSE:FLS) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 8,099 shares of the industrial products company’s stock, valued at approximately $466,000.

A number of other institutional investors have also modified their holdings of FLS. Headlands Technologies LLC increased its stake 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. UMB Bank n.a. grew its stake in shares of Flowserve by 64.2% in the fourth 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 raised its stake in shares of 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 in the last quarter. Quadrant Capital Group LLC boosted its holdings in Flowserve by 34.6% in 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 during the period. Finally, Quintet Private Bank Europe S.A. purchased a new position in Flowserve in the fourth quarter valued at $63,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Trading Up 2.6%

Shares of FLS opened at $52.14 on Wednesday. The stock has a fifty day moving average of $46.25 and a two-hundred day moving average of $54.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The company has a market capitalization of $6.82 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21.

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. The firm 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%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. As a group, analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FLS. 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 report on Thursday, January 16th. Robert W. Baird lowered their price objective on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus boosted their target price on Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. StockNews.com upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Finally, 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 note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flowserve has an average rating of “Buy” and a consensus price target 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.