Geode Capital Management LLC lifted its position in shares of Flowserve Corp (NYSE:FLS) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,463,838 shares of the industrial products company’s stock after acquiring an additional 45,135 shares during the quarter. Geode Capital Management LLC’s holdings in Flowserve were worth $61,551,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Allianz Asset Management GmbH increased its stake in shares of Flowserve by 7.6% during the fourth quarter. Allianz Asset Management GmbH now owns 83,007 shares of the industrial products company’s stock worth $3,498,000 after acquiring an additional 5,891 shares during the period. Amalgamated Bank increased its stake in shares of Flowserve by 5.6% during the fourth quarter. Amalgamated Bank now owns 27,072 shares of the industrial products company’s stock worth $1,141,000 after acquiring an additional 1,426 shares during the period. Assetmark Inc. increased its stake in shares of Flowserve by 26,030.0% during the fourth quarter. Assetmark Inc. now owns 2,613 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 2,603 shares during the period. Golub Group LLC increased its stake in shares of Flowserve by 14.8% during the fourth quarter. Golub Group LLC now owns 1,406,489 shares of the industrial products company’s stock worth $59,255,000 after acquiring an additional 181,767 shares during the period. Finally, American International Group Inc. increased its stake in shares of Flowserve by 13.4% during the fourth quarter. American International Group Inc. now owns 48,747 shares of the industrial products company’s stock worth $2,054,000 after acquiring an additional 5,777 shares during the period.
FLS has been the topic of a number of recent analyst reports. Robert W. Baird reiterated a “hold” rating and set a $45.00 price target on shares of Flowserve in a research note on Friday, December 15th. Stifel Nicolaus lowered shares of Flowserve from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Monday, December 11th. Royal Bank of Canada upgraded shares of Flowserve from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, February 20th. Zacks Investment Research lowered shares of Flowserve from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Finally, Goldman Sachs Group lowered shares of Flowserve from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $42.65 to $37.00 in a research report on Thursday, December 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $43.67.
Flowserve (NYSE:FLS) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). Flowserve had a positive return on equity of 10.36% and a negative net margin of 0.04%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. equities analysts anticipate that Flowserve Corp will post 1.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.76 annualized dividend and a yield of 1.72%. Flowserve’s payout ratio is currently -3,800.00%.
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Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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