Mutual of America Capital Management LLC Cuts Stake in Flowserve Co. (NYSE:FLS)

Mutual of America Capital Management LLC lessened its position in shares of Flowserve Co. (NYSE:FLS) by 4.9% in the 4th quarter, HoldingsChannel reports. The fund owned 81,083 shares of the industrial products company’s stock after selling 4,213 shares during the period. Mutual of America Capital Management LLC’s holdings in Flowserve were worth $3,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new position in Flowserve during the 4th quarter worth approximately $26,000. First Manhattan CO. LLC. grew its holdings in Flowserve by 682.6% during the 1st quarter. First Manhattan CO. LLC. now owns 900 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 785 shares in the last quarter. Quarry LP acquired a new position in Flowserve during the 1st quarter worth approximately $38,000. Harbour Investments Inc. grew its holdings in Flowserve by 79.5% during the 4th quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 700 shares in the last quarter. Finally, Gyon Technologies Capital Management LP acquired a new position in Flowserve during the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

FLS has been the subject of several analyst reports. Citigroup boosted their price target on shares of Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada upped their target price on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Mizuho upped their target price on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Robert W. Baird upped their target price on shares of Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus upped their target price on shares of Flowserve from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $48.25.

Flowserve Stock Down 1.5 %

Shares of NYSE:FLS opened at $45.67 on Thursday. The stock has a market cap of $5.99 billion, a P/E ratio of 32.39, a P/E/G ratio of 1.32 and a beta of 1.46. The firm has a fifty day moving average price of $44.35 and a 200 day moving average price of $40.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. Flowserve Co. has a 1-year low of $32.05 and a 1-year high of $48.31.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. Sell-side analysts predict that Flowserve Co. will post 2.55 EPS for the current year.

Flowserve Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is currently 59.57%.

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.