Kentucky Retirement Systems Insurance Trust Fund bought a new position in Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,939 shares of the industrial products company's stock, valued at approximately $284,000.
A number of other institutional investors have also recently modified their holdings of FLS. Point72 Asset Management L.P. grew its stake in shares of Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company's stock worth $47,207,000 after acquiring an additional 606,416 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after acquiring an additional 422,141 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Flowserve by 66.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company's stock worth $31,930,000 after acquiring an additional 220,805 shares during the last quarter. Regents Gate Capital LLP purchased a new stake in shares of Flowserve in the fourth quarter worth $9,182,000. Finally, FMR LLC grew its stake in shares of Flowserve by 15.6% in the third quarter. FMR LLC now owns 893,200 shares of the industrial products company's stock worth $46,170,000 after acquiring an additional 120,396 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.
Flowserve Stock Performance
FLS stock traded down $2.08 during trading on Friday, reaching $55.38. The stock had a trading volume of 2,004,391 shares, compared to its average volume of 1,318,518. Flowserve Co. has a 52 week low of $41.60 and a 52 week high of $65.08. The stock's 50 day moving average is $60.57 and its two-hundred day moving average is $55.78. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The firm has a market cap of $7.28 billion, a PE ratio of 25.88, a PEG ratio of 1.35 and a beta of 1.42.
Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results 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). The firm had revenue of $1.18 billion during 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 anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.
Flowserve Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's payout ratio is 39.25%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Mizuho increased their target price on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday. Stifel Nicolaus upped their price target on Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a report on Thursday. StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a report on Thursday. Citigroup lowered their price target on Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, Bank of America upped their price target on Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Flowserve has an average rating of "Moderate Buy" and a consensus price target of $68.60.
Get Our Latest Stock Report on Flowserve
Flowserve Profile
(
Free Report)
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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