Pier Capital LLC Has $11.05 Million Holdings in Flowserve Co. (NYSE:FLS)

Pier Capital LLC grew its stake in shares of Flowserve Co. (NYSE:FLS) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 192,069 shares of the industrial products company’s stock after buying an additional 39,282 shares during the quarter. Flowserve makes up 1.6% of Pier Capital LLC’s holdings, making the stock its 6th biggest holding. Pier Capital LLC owned approximately 0.15% of Flowserve worth $11,048,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of FLS. True Wealth Design LLC bought a new stake in Flowserve during the 3rd quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve during the third quarter valued at about $29,000. UMB Bank n.a. boosted its stake in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares in the last quarter. Canton Hathaway LLC bought a new stake in shares of Flowserve during the third quarter worth about $42,000. Finally, Brooklyn Investment Group acquired a new position in shares of Flowserve in the third quarter valued at approximately $42,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada cut their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. TD Cowen increased their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Mizuho lifted their target price on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Citigroup decreased their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Stock Up 3.8 %

Shares of NYSE:FLS opened at $52.48 on Tuesday. The business’s 50-day moving average is $57.41 and its 200-day moving average is $56.41. Flowserve Co. has a 1 year low of $43.66 and a 1 year high of $65.08. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 1.35 and a beta of 1.43. 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 issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (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%. Equities research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is currently 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.