MetLife Investment Management LLC Increases Stock Holdings in Flowserve Co. (NYSE:FLS)

MetLife Investment Management LLC boosted its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,055 shares of the industrial products company's stock after purchasing an additional 6,156 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Flowserve worth $4,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC raised its position in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after buying an additional 479 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve in the third quarter valued at $29,000. UMB Bank n.a. lifted its stake in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after purchasing an additional 595 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after purchasing an additional 275 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on FLS shares. TD Cowen increased their target price on shares of 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. Mizuho boosted their target price on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Robert W. Baird upgraded Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target on the stock in a research note on Monday, March 17th. Finally, Royal Bank of Canada dropped their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.30.

Flowserve Price Performance

FLS stock opened at $44.69 on Friday. The business's 50-day moving average is $48.23 and its two-hundred day moving average is $55.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The firm has a market capitalization of $5.89 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate 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. Analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

About Flowserve

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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