Pier Capital LLC Purchases 39,282 Shares of Flowserve Co. (NYSE:FLS)

Pier Capital LLC boosted its holdings in Flowserve Co. (NYSE:FLS) by 25.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,069 shares of the industrial products company’s stock after purchasing an additional 39,282 shares during the quarter. Flowserve comprises approximately 1.6% of Pier Capital LLC’s investment portfolio, making the stock its 6th largest holding. Pier Capital LLC’s holdings in Flowserve were worth $11,048,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLS. True Wealth Design LLC bought a new position in shares of Flowserve in the third quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve in the 3rd quarter worth about $29,000. UMB Bank n.a. lifted its position in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 278 shares in the last quarter. Brooklyn Investment Group acquired a new position in Flowserve during the 3rd quarter valued at about $42,000. Finally, Canton Hathaway LLC bought a new stake in Flowserve during the 3rd quarter worth approximately $42,000. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Stifel Nicolaus lifted their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Mizuho raised their price target 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. Finally, Royal Bank of Canada decreased their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Stock Up 3.8 %

Flowserve stock opened at $52.48 on Tuesday. The firm has a 50 day moving average price of $57.41 and a 200-day moving average price of $56.41. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a twelve month low of $43.66 and a twelve month high of $65.08. The company has a market capitalization of $6.91 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.35 and a beta of 1.43.

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

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued 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%.

About Flowserve

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.