BNP Paribas Financial Markets Has $14.28 Million Holdings in Flowserve Co. (NYSE:FLS)

BNP Paribas Financial Markets lifted its position in shares of Flowserve Co. (NYSE:FLS) by 136.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 248,327 shares of the industrial products company’s stock after purchasing an additional 143,443 shares during the period. BNP Paribas Financial Markets’ holdings in Flowserve were worth $14,284,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FLS. New York Life Investment Management LLC bought a new position in shares of Flowserve in the fourth quarter valued at $800,000. American Century Companies Inc. boosted its stake in Flowserve by 25.9% during the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock valued at $6,384,000 after purchasing an additional 22,850 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Flowserve during the 4th quarter worth approximately $422,000. Commonwealth Equity Services LLC raised its stake in shares of Flowserve by 103.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company’s stock worth $1,197,000 after purchasing an additional 10,557 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Flowserve by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 290 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

Flowserve stock opened at $47.75 on Friday. 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 business’s 50 day simple moving average is $46.18 and its 200 day simple moving average is $54.80. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders 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 annualized dividend and a dividend yield of 1.76%. Flowserve’s dividend payout ratio is currently 39.25%.

Analyst Ratings Changes

FLS has been the subject of a number of analyst reports. Robert W. Baird lowered their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. StockNews.com upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Royal Bank of Canada increased their price objective on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus boosted their target price on Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $64.11.

Flowserve 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.