International Assets Investment Management LLC Purchases Shares of 89,635 Flowserve Co. (NYSE:FLS)

International Assets Investment Management LLC purchased a new stake in Flowserve Co. (NYSE:FLS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 89,635 shares of the industrial products company’s stock, valued at approximately $3,695,000. International Assets Investment Management LLC owned 0.07% of Flowserve at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new stake in shares of Flowserve during the 1st quarter worth $208,000. Raymond James & Associates lifted its holdings in shares of Flowserve by 70.7% during the 1st quarter. Raymond James & Associates now owns 113,597 shares of the industrial products company’s stock worth $4,078,000 after acquiring an additional 47,032 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Flowserve by 15.1% during the 1st quarter. American Century Companies Inc. now owns 14,896 shares of the industrial products company’s stock worth $535,000 after acquiring an additional 1,950 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Flowserve by 11.0% during the 1st quarter. US Bancorp DE now owns 8,139 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 807 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Flowserve by 3.2% during the 1st quarter. Bank of Montreal Can now owns 159,979 shares of the industrial products company’s stock worth $5,667,000 after acquiring an additional 4,900 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Price Performance

FLS stock opened at $45.67 on Thursday. The firm’s 50-day moving average price is $44.35 and its two-hundred day moving average price is $40.90. Flowserve Co. has a 12-month low of $32.05 and a 12-month high of $48.31. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 1.32 and a beta of 1.46. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. Flowserve’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts predict that Flowserve Co. will post 2.55 earnings per share for the current year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.84%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s payout ratio is currently 59.57%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FLS shares. Robert W. Baird lifted their target price on shares of Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Royal Bank of Canada lifted their target price on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Citigroup lifted their target price on shares of Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their target price on shares of Flowserve from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Mizuho lifted their target price on shares of Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and a consensus target price of $48.25.

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.