Flowserve Co. (NYSE:FLS) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its position in Flowserve Co. (NYSE:FLS) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,722 shares of the industrial products company’s stock after selling 422 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Flowserve were worth $847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FLS. Arizona State Retirement System lifted its position in Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Flowserve by 0.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock valued at $1,527,000 after buying an additional 236 shares during the period. Savant Capital LLC boosted its stake in shares of Flowserve by 0.4% in the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after buying an additional 251 shares in the last quarter. Quadrant Capital Group LLC grew its holdings 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 acquiring an additional 275 shares during the period. Finally, UMB Bank n.a. raised its position in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLS. Robert W. Baird lowered their price target on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com raised shares of Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus boosted their price target on Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho raised their price objective on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Citigroup decreased their target price on Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Flowserve presently has an average rating of “Buy” and an average price target of $64.11.

Flowserve Price Performance

FLS stock opened at $46.11 on Friday. The stock’s 50 day moving average price is $46.94 and its 200 day moving average price is $55.08. The firm has a market cap of $6.07 billion, a P/E ratio of 21.55, a PEG ratio of 1.35 and a beta of 1.22. 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 1 year low of $37.34 and a 1 year high of $65.08.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.13. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 earnings per share. On average, sell-side analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s dividend payout ratio is presently 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.