Poinciana Advisors Group LLC Acquires Shares of 5,056 Flowserve Co. (NYSE:FLS)

Poinciana Advisors Group LLC acquired a new stake in shares of Flowserve Co. (NYSE:FLS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,056 shares of the industrial products company’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FLS. Crossmark Global Holdings Inc. lifted its position in Flowserve by 3.9% during the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock valued at $442,000 after buying an additional 318 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve in the 3rd quarter worth about $29,000. Versor Investments LP raised its position in shares of Flowserve by 33.5% in the 3rd quarter. Versor Investments LP now owns 5,584 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 1,400 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Flowserve by 46.6% in the 3rd quarter. Victory Capital Management Inc. now owns 184,864 shares of the industrial products company’s stock worth $9,556,000 after purchasing an additional 58,769 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Flowserve by 17.9% in the 3rd quarter. KBC Group NV now owns 3,432 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

FLS has been the subject of several recent analyst reports. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Mizuho lifted their price target on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Stifel Nicolaus lifted their price target on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Robert W. Baird lifted their price target on Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, StockNews.com downgraded Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Trading Up 2.9 %

Flowserve stock opened at $49.00 on Friday. The business has a 50-day simple moving average of $58.55 and a two-hundred day simple moving average of $56.20. The company has a market cap of $6.45 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 52-week low of $43.66 and a 52-week high of $65.08. 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 (NYSE:FLS) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The company 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.71%. Flowserve’s dividend payout ratio 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.