Flowserve Co. (NYSE:FLS) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC grew its stake in Flowserve Co. (NYSE:FLS) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,055 shares of the industrial products company’s stock after buying an additional 6,156 shares during the period. MetLife Investment Management LLC’s holdings in Flowserve were worth $4,260,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC boosted its stake in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 479 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve in the 3rd quarter valued at about $29,000. UMB Bank n.a. boosted its position in shares of Flowserve by 64.2% in the 4th 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. EverSource Wealth Advisors LLC grew its stake in Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after buying an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock worth $62,000 after buying an additional 275 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada dropped their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. TD Cowen increased their target price 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. Stifel Nicolaus reduced their price objective on Flowserve from $77.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price on the stock in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.30.

Flowserve Stock Up 5.6 %

Flowserve stock opened at $44.69 on Friday. The stock’s 50 day moving average price is $48.23 and its 200 day moving average price is $55.39. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a market cap of $5.89 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

Flowserve (NYSE:FLS) last posted its quarterly 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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. Flowserve’s payout ratio 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.