New Age Alpha Advisors LLC Invests $422,000 in Flowserve Co. (NYSE:FLS)

New Age Alpha Advisors LLC purchased a new position in Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,339 shares of the industrial products company's stock, valued at approximately $422,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLS. Norges Bank acquired a new stake in shares of Flowserve during the fourth quarter worth approximately $94,629,000. Point72 Asset Management L.P. grew its holdings in Flowserve by 197.6% during the 3rd 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 in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Flowserve in the 4th quarter worth about $23,614,000. Artisan Partners Limited Partnership acquired a new stake in shares of Flowserve in the 4th quarter valued at about $23,007,000. Finally, Raymond James Financial Inc. bought a new position in shares of Flowserve during the fourth quarter worth about $14,546,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FLS. StockNews.com lowered Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a "sell" rating to a "neutral" rating and boosted their target price for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Citigroup reduced their price target on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Finally, TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Flowserve has a consensus rating of "Moderate Buy" and an average price target of $68.60.

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Flowserve Stock Performance

NYSE FLS traded down $3.53 on Friday, hitting $40.07. The stock had a trading volume of 2,817,652 shares, compared to its average volume of 1,219,284. The company's 50-day moving average is $54.75 and its two-hundred day moving average is $56.54. Flowserve Co. has a one year low of $38.23 and a one year high of $65.08. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.10%. Flowserve's dividend payout ratio (DPR) is 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.