Flowserve Co. (NYSE:FLS) Holdings Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,221 shares of the industrial products company's stock after buying an additional 11,245 shares during the period. New York State Common Retirement Fund owned 0.18% of Flowserve worth $13,300,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in Flowserve during the third quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve during the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve during the third quarter worth $29,000. Allworth Financial LP boosted its holdings in shares of Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock worth $34,000 after purchasing an additional 403 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Flowserve by 64.2% in the fourth 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 period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Down 1.3 %

FLS stock traded down $0.71 during midday trading on Thursday, hitting $54.46. 865,241 shares of the company's stock were exchanged, compared to its average volume of 1,338,175. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.35 and a beta of 1.42. 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 50 day moving average price of $60.29 and a 200-day moving average price of $56.06. Flowserve Co. has a 12-month low of $41.78 and a 12-month high of $65.08.

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Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid 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 1.54%. Flowserve's dividend payout ratio (DPR) is 39.25%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FLS shares. Robert W. Baird raised 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. Stifel Nicolaus boosted their target price on shares of Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a report on Thursday, February 20th. TD Cowen increased their price target 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. Royal Bank of Canada decreased their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Finally, Mizuho upped their price objective on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.