Treasurer of the State of North Carolina Buys 560 Shares of Flowserve Co. (NYSE:FLS)

Treasurer of the State of North Carolina lifted its stake in shares of Flowserve Co. (NYSE:FLSFree Report) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,004 shares of the industrial products company’s stock after purchasing an additional 560 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Flowserve were worth $2,391,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FLS. Vanguard Group Inc. grew its stake in Flowserve by 0.5% during the third quarter. Vanguard Group Inc. now owns 13,260,754 shares of the industrial products company’s stock worth $527,380,000 after buying an additional 71,320 shares in the last quarter. Wellington Management Group LLP boosted 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 acquiring an additional 246,636 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Flowserve by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock valued at $82,595,000 after acquiring an additional 157,125 shares during the last quarter. Norges Bank acquired a new position in Flowserve during the fourth quarter valued at approximately $59,261,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Flowserve by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,259,002 shares of the industrial products company’s stock worth $51,896,000 after purchasing an additional 24,449 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.3 %

FLS opened at $47.45 on Friday. The company’s 50 day moving average price is $47.91 and its two-hundred day moving average price is $43.54. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.24 and a beta of 1.44. Flowserve Co. has a fifty-two week low of $35.21 and a fifty-two week high of $50.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28.

Flowserve (NYSE:FLSGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. Flowserve’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, research analysts predict that Flowserve Co. will post 2.66 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. Flowserve’s dividend payout ratio (DPR) is 47.46%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLS. Bank of America lifted their price target on Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 27th. Citigroup increased their target price on shares of Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group lifted their price target on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, TD Cowen increased their price objective on shares of Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.55.

View Our Latest Stock Report on Flowserve

Insider Transactions at Flowserve

In other Flowserve news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the completion of the sale, the chief executive officer now owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

About Flowserve

(Free Report)

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.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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