Amalgamated Bank Has $3.73 Million Stake in Flowserve Co. (NYSE:FLS)

Amalgamated Bank lessened its stake in shares of Flowserve Co. (NYSE:FLS) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,570 shares of the industrial products company’s stock after selling 573 shares during the quarter. Amalgamated Bank’s holdings in Flowserve were worth $3,733,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in Flowserve by 92.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,667 shares of the industrial products company’s stock valued at $623,000 after buying an additional 7,533 shares during the last quarter. Raymond James & Associates lifted its position in shares of Flowserve by 9.7% during the 3rd quarter. Raymond James & Associates now owns 431,223 shares of the industrial products company’s stock worth $17,150,000 after purchasing an additional 38,242 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Flowserve during the 3rd quarter valued at approximately $2,053,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Flowserve by 19.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,016 shares of the industrial products company’s stock valued at $1,074,000 after buying an additional 4,475 shares during the last quarter. Finally, Strs Ohio increased its position in Flowserve by 13.4% in the 3rd quarter. Strs Ohio now owns 53,287 shares of the industrial products company’s stock worth $2,119,000 after buying an additional 6,276 shares during the period. Institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

NYSE:FLS opened at $49.35 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The firm has a market cap of $6.50 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. Flowserve Co. has a 12 month low of $32.49 and a 12 month high of $49.38. The company’s 50-day moving average price is $45.95 and its two-hundred day moving average price is $41.87.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $0.40 EPS. Flowserve’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts anticipate that Flowserve Co. will post 2.62 EPS for the current fiscal year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.21 per share. This is an increase from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a yield of 1.70%. Flowserve’s dividend payout ratio is 47.46%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FLS shares. TD Cowen boosted their target price on shares of Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Mizuho restated a “buy” rating and set a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. Bank of America increased their target price on shares of Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird lifted their target price on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada upped their price target on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.55.

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.