New York Life Investment Management LLC Buys New Position in Flowserve Co. (NYSE:FLS)

New York Life Investment Management LLC acquired a new stake in Flowserve Co. (NYSE:FLS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,905 shares of the industrial products company's stock, valued at approximately $800,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp increased its position in shares of Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock valued at $201,685,000 after buying an additional 37,132 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company's stock worth $134,577,000 after acquiring an additional 44,039 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Flowserve by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company's stock worth $113,851,000 after acquiring an additional 23,529 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Flowserve by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company's stock worth $90,761,000 after acquiring an additional 4,414 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted 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. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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Flowserve Trading Down 0.7 %

Shares of Flowserve stock traded down $0.35 during trading hours on Friday, hitting $48.44. The company's stock had a trading volume of 2,926,795 shares, compared to its average volume of 1,135,502. Flowserve Co. has a twelve month low of $43.00 and a twelve month high of $65.08. The firm has a fifty day moving average of $59.35 and a 200-day moving average of $56.22. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.35 and a beta of 1.42. 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 (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Research analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

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 issued a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.73%. Flowserve's dividend payout ratio (DPR) is 39.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen lifted their price target on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Citigroup lowered their price target on Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Robert W. Baird lifted their price target on Flowserve from $69.00 to $71.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Mizuho boosted their price objective on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada lowered their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.60.

Flowserve Company 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.