Engine NO. 1 LLC Invests $7.36 Million in Flowserve Co. (NYSE:FLS)

Engine NO. 1 LLC purchased a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 128,000 shares of the industrial products company's stock, valued at approximately $7,363,000. Flowserve accounts for approximately 19.6% of Engine NO. 1 LLC's portfolio, making the stock its 4th biggest holding. Engine NO. 1 LLC owned 0.10% of Flowserve as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock valued at $2,193,000 after purchasing an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of Flowserve by 0.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock valued at $1,527,000 after buying an additional 236 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Flowserve by 0.4% in the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock worth $3,541,000 after buying an additional 251 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after acquiring an additional 275 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Flowserve by 64.2% during 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. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLS has been the topic of several recent research reports. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective on the stock in a research note on Monday, March 17th. TD Cowen raised their target price on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus cut their price objective on shares of Flowserve from $77.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of "Moderate Buy" and an average target price of $64.30.

Flowserve Stock Performance

NYSE:FLS opened at $41.55 on Wednesday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 19.42, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The company has a 50 day moving average price of $48.98 and a 200 day moving average price of $55.55.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve's payout ratio is 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.

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