Cookson Peirce & Co. Inc. Takes $241,000 Position in Flowserve Co. (NYSE:FLS)

Cookson Peirce & Co. Inc. bought 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 fund bought 5,853 shares of the industrial products company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Investment Consultants LLC increased its position in Flowserve by 1.8% in the 3rd quarter. Integrated Investment Consultants LLC now owns 14,611 shares of the industrial products company’s stock valued at $581,000 after acquiring an additional 262 shares during the period. Treasurer of the State of North Carolina increased its position in Flowserve by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company’s stock worth $2,285,000 after purchasing an additional 290 shares during the period. Verdence Capital Advisors LLC increased its position in Flowserve by 3.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,606 shares of the industrial products company’s stock worth $382,000 after purchasing an additional 291 shares during the period. Captrust Financial Advisors increased its position in Flowserve by 17.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,073 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 303 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Flowserve by 1.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 34,830 shares of the industrial products company’s stock worth $846,000 after purchasing an additional 341 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Performance

Flowserve stock opened at $45.67 on Thursday. The stock has a fifty day moving average price of $44.35 and a 200 day moving average price of $40.90. 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 Co. has a 52 week low of $32.05 and a 52 week high of $48.31. The firm has a market capitalization of $5.99 billion, a P/E ratio of 32.39, a PEG ratio of 1.32 and a beta of 1.46.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, topping 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm posted $0.63 EPS. The company’s revenue was up 12.2% on a year-over-year basis. Equities research analysts anticipate that Flowserve Co. will post 2.55 earnings per share for the current year.

Flowserve Increases Dividend

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

Analyst Ratings Changes

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