Hsbc Holdings PLC Increases Stock Position in Flowserve Co. (NYSE:FLS)

Hsbc Holdings PLC lifted its holdings in shares of Flowserve Co. (NYSE:FLS) by 41.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 108,631 shares of the industrial products company’s stock after acquiring an additional 31,980 shares during the quarter. Hsbc Holdings PLC’s holdings in Flowserve were worth $6,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its stake in Flowserve by 17.8% in the 3rd quarter. Barclays PLC now owns 229,379 shares of the industrial products company’s stock worth $11,857,000 after purchasing an additional 34,645 shares in the last quarter. Virtu Financial LLC purchased a new stake in Flowserve in the 3rd quarter worth approximately $227,000. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve in the 3rd quarter worth approximately $29,000. Franklin Resources Inc. lifted its stake in Flowserve by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock worth $3,909,000 after purchasing an additional 5,127 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Flowserve by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 290 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on FLS shares. Stifel Nicolaus lowered their target price on shares of Flowserve from $77.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Mizuho raised their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Citigroup lowered their price objective on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.30.

Flowserve Price Performance

FLS stock opened at $44.64 on Tuesday. 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 52 week low of $37.34 and a 52 week high of $65.08. The firm’s fifty day moving average is $47.58 and its 200 day moving average is $55.28. The firm has a market cap of $5.88 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s payout ratio is 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.