Bailard Inc. Has $759,000 Stake in Flowserve Co. (NYSE:FLS)

Bailard Inc. boosted its holdings in Flowserve Co. (NYSE:FLS) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,195 shares of the industrial products company’s stock after purchasing an additional 500 shares during the quarter. Bailard Inc.’s holdings in Flowserve were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Creative Planning lifted its stake in shares of Flowserve by 6.9% in the third quarter. Creative Planning now owns 6,879 shares of the industrial products company’s stock valued at $356,000 after buying an additional 444 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Flowserve by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,208 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 1,035 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Flowserve by 12.8% during the 3rd quarter. New York State Teachers Retirement System now owns 149,371 shares of the industrial products company’s stock valued at $7,721,000 after purchasing an additional 16,926 shares during the last quarter. US Bancorp DE boosted its stake in Flowserve by 9.6% during the 3rd quarter. US Bancorp DE now owns 5,433 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 475 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Flowserve by 14.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 35,466 shares of the industrial products company’s stock worth $1,833,000 after purchasing an additional 4,351 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FLS shares. Mizuho raised their target price on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada lowered their target price 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. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Finally, Stifel Nicolaus upped their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Price Performance

FLS opened at $52.67 on Tuesday. The firm has a market cap of $6.94 billion, a P/E ratio of 24.61, a PEG 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 Co. has a fifty-two week low of $41.94 and a fifty-two week high of $65.08. The firm has a 50-day moving average of $60.16 and a 200 day moving average of $56.25.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company 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%. On average, research analysts expect that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is currently 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.