Flowserve Co. (NYSE:FLS) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Flowserve Co. (NYSE:FLS) by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,182 shares of the industrial products company’s stock after purchasing an additional 4,458 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flowserve were worth $2,024,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FLS. Crossmark Global Holdings Inc. lifted its stake in shares of Flowserve by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 318 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Flowserve by 46.6% in the third quarter. Victory Capital Management Inc. now owns 184,864 shares of the industrial products company’s stock worth $9,556,000 after acquiring an additional 58,769 shares in the last quarter. KBC Group NV lifted its stake in shares of Flowserve by 17.9% in the third quarter. KBC Group NV now owns 3,432 shares of the industrial products company’s stock worth $177,000 after acquiring an additional 522 shares in the last quarter. ING Groep NV lifted its stake in shares of Flowserve by 52.6% in the third quarter. ING Groep NV now owns 58,000 shares of the industrial products company’s stock worth $2,998,000 after acquiring an additional 20,000 shares in the last quarter. Finally, KPP Advisory Services LLC lifted its stake in shares of Flowserve by 3.2% in the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 215 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

FLS has been the topic of several research reports. Robert W. Baird upped their price objective on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Royal Bank of Canada cut their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. TD Cowen upped 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. Citigroup cut their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Mizuho upped their target price on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Performance

Shares of FLS stock opened at $49.00 on Monday. Flowserve Co. has a 12-month low of $43.66 and a 12-month high of $65.08. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The business has a 50 day simple moving average of $58.36 and a 200 day simple moving average of $56.30. 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 (NYSE:FLS) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. On average, equities research analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. Flowserve’s dividend payout ratio (DPR) is 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.