Strs Ohio Has $1.98 Million Stake in Flowserve Co. (NYSE:FLS)

Strs Ohio reduced its position in shares of Flowserve Co. (NYSE:FLS) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,024 shares of the industrial products company’s stock after selling 5,263 shares during the quarter. Strs Ohio’s holdings in Flowserve were worth $1,979,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. acquired a new position in Flowserve during the first quarter valued at $208,000. Raymond James & Associates increased its holdings in shares of Flowserve by 70.7% in the 1st quarter. Raymond James & Associates now owns 113,597 shares of the industrial products company’s stock valued at $4,078,000 after purchasing an additional 47,032 shares during the period. American Century Companies Inc. lifted its position in shares of Flowserve by 15.1% in the first quarter. American Century Companies Inc. now owns 14,896 shares of the industrial products company’s stock worth $535,000 after purchasing an additional 1,950 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Flowserve by 11.0% during the first quarter. US Bancorp DE now owns 8,139 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 807 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Flowserve by 3.2% during the first quarter. Bank of Montreal Can now owns 159,979 shares of the industrial products company’s stock worth $5,667,000 after purchasing an additional 4,900 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLS. Mizuho upped their price objective on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Stifel Nicolaus upped their price target on shares of Flowserve from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lifted their price objective on Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Robert W. Baird upped their target price on Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada raised their price target on Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.25.

Flowserve Price Performance

NYSE FLS opened at $45.81 on Friday. The firm has a market cap of $6.01 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 1.30 and a beta of 1.46. The stock’s 50-day moving average is $44.52 and its two-hundred day moving average is $40.98. Flowserve Co. has a fifty-two week low of $32.05 and a fifty-two week high of $48.31. 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 (NYSE:FLS) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. On average, analysts anticipate that Flowserve Co. will post 2.54 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a dividend of $0.21 per share. This is an increase from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Wednesday, March 27th. Flowserve’s dividend payout ratio is currently 59.57%.

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.