New York State Common Retirement Fund Boosts Holdings in Flowserve Co. (NYSE:FLS)

New York State Common Retirement Fund boosted its position in shares of Flowserve Co. (NYSE:FLS) by 5.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 231,221 shares of the industrial products company’s stock after purchasing an additional 11,245 shares during the quarter. New York State Common Retirement Fund owned about 0.18% of Flowserve worth $13,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. grew its holdings in shares of Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after buying an additional 606,416 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after acquiring an additional 422,141 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Flowserve by 66.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company’s stock valued at $31,930,000 after purchasing an additional 220,805 shares during the last quarter. Regents Gate Capital LLP bought a new stake in shares of Flowserve in the 4th quarter worth $9,182,000. Finally, FMR LLC raised 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 purchasing an additional 120,396 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FLS shares. Citigroup dropped their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird raised their price target on shares of Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada decreased their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Down 3.6 %

Shares of FLS stock opened at $55.38 on Monday. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.35 and a beta of 1.42. 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 company’s fifty day moving average price is $60.57 and its 200-day moving average price is $55.93. Flowserve Co. has a one year low of $41.60 and a one year high of $65.08.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion for 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%. Sell-side analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.52%. Flowserve’s dividend payout ratio is 39.25%.

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.