Nisa Investment Advisors LLC Raises Position in Flowserve Co. (NYSE:FLS)

Nisa Investment Advisors LLC raised its holdings in Flowserve Co. (NYSE:FLS) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,148 shares of the industrial products company’s stock after buying an additional 450 shares during the period. Nisa Investment Advisors LLC’s holdings in Flowserve were worth $2,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Flowserve by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 13,260,754 shares of the industrial products company’s stock valued at $527,380,000 after buying an additional 71,320 shares during the period. BlackRock Inc. lifted its position in shares of Flowserve by 0.8% during the 1st quarter. BlackRock Inc. now owns 10,793,498 shares of the industrial products company’s stock worth $387,485,000 after purchasing an additional 88,950 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Flowserve by 2.5% during the 3rd quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after purchasing an additional 246,636 shares during the last quarter. State Street Corp lifted its position in shares of Flowserve by 2.4% during the 1st quarter. State Street Corp now owns 3,770,040 shares of the industrial products company’s stock worth $128,931,000 after purchasing an additional 86,815 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Flowserve by 17.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,021,081 shares of the industrial products company’s stock worth $75,083,000 after purchasing an additional 304,769 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 0.9 %

NYSE FLS opened at $46.66 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.27 and a current ratio of 1.88. The firm has a market cap of $6.12 billion, a PE ratio of 33.09, a P/E/G ratio of 1.34 and a beta of 1.46. Flowserve Co. has a one year low of $32.05 and a one year high of $48.31. The firm’s fifty day moving average is $44.02 and its two-hundred day moving average is $40.76.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. Flowserve’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. Analysts expect that Flowserve Co. will post 2.55 earnings per share for the current year.

Flowserve Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. Flowserve’s payout ratio is currently 59.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 22nd. Robert W. Baird boosted their price target on shares of Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Citigroup boosted their price target on shares of Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada boosted their price target on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.75.

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.