Flowserve Corp (FLS) Holdings Boosted by KBC Group NV
KBC Group NV boosted its stake in shares of Flowserve Corp (NYSE:FLS) by 20.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 561,747 shares of the industrial products company’s stock after purchasing an additional 97,297 shares during the period. KBC Group NV’s holdings in Flowserve were worth $23,666,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Zions Bancorporation purchased a new position in Flowserve during the third quarter worth approximately $117,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Flowserve in the fourth quarter worth $118,000. Commerce Bank acquired a new stake in shares of Flowserve in the third quarter worth $217,000. Thrivent Financial For Lutherans increased its position in shares of Flowserve by 3.5% in the second quarter. Thrivent Financial For Lutherans now owns 4,970 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 170 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in shares of Flowserve by 2.5% in the second quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 126 shares in the last quarter.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Flowserve from a “hold” rating to a “sell” rating in a research report on Wednesday. Stifel Nicolaus reissued a “hold” rating and issued a $47.00 price objective (up previously from $43.00) on shares of Flowserve in a research report on Tuesday, January 16th. Royal Bank of Canada reissued a “sell” rating and issued a $39.00 price objective on shares of Flowserve in a research report on Thursday, January 4th. Robert W. Baird reissued a “hold” rating and issued a $45.00 price objective on shares of Flowserve in a research report on Friday, December 15th. Finally, Goldman Sachs Group lowered shares of Flowserve from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $42.65 to $37.00 in a research report on Thursday, December 7th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $43.92.
The company also recently declared a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, January 5th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, January 4th. Flowserve’s payout ratio is 58.92%.
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Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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