Bank of Montreal Can grew its position in Flowserve Corp (NYSE:FLS) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,873 shares of the industrial products company’s stock after buying an additional 3,936 shares during the quarter. Bank of Montreal Can owned approximately 0.07% of Flowserve worth $4,080,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zions Bancorporation acquired a new position in shares of Flowserve in the third quarter worth about $117,000. Sciencast Management LP acquired a new stake in shares of Flowserve during the second quarter worth approximately $201,000. Commerce Bank acquired a new stake in shares of Flowserve during the third quarter worth approximately $217,000. Thrivent Financial For Lutherans boosted its holdings in shares of Flowserve by 3.5% during the second quarter. Thrivent Financial For Lutherans now owns 4,970 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 170 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in shares of Flowserve by 2.5% during the second quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 126 shares during the period.
Flowserve Corp (FLS) traded down $0.89 during midday trading on Tuesday, reaching $40.53. 263,343 shares of the company’s stock were exchanged, compared to its average volume of 1,361,965. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30. The firm has a market capitalization of $5,272.43, a PE ratio of 32.11, a PEG ratio of 2.43 and a beta of 1.54. Flowserve Corp has a 1 year low of $37.51 and a 1 year high of $51.92.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, January 5th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, January 4th. Flowserve’s dividend payout ratio (DPR) is presently 58.92%.
Several research firms recently commented on FLS. Boenning Scattergood restated a “hold” rating on shares of Flowserve in a report on Thursday, November 2nd. Stifel Nicolaus restated a “hold” rating and set a $47.00 price target (up from $43.00) on shares of Flowserve in a report on Tuesday, January 16th. Robert W. Baird restated a “hold” rating and set a $45.00 price target on shares of Flowserve in a report on Friday, December 15th. BMO Capital Markets cut shares of Flowserve from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $51.00 to $41.00 in a report on Friday, November 3rd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $36.00 price target (down from $38.00) on shares of Flowserve in a report on Friday, November 3rd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Flowserve currently has an average rating of “Hold” and an average price target of $43.92.
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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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