Flowserve Co. (NYSE:FLS) Stock Holdings Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in Flowserve Co. (NYSE:FLS) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 162,493 shares of the industrial products company’s stock after selling 2,272 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Flowserve worth $7,816,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in Flowserve during the fourth quarter worth $3,695,000. Allspring Global Investments Holdings LLC lifted its position in shares of Flowserve by 73.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,114 shares of the industrial products company’s stock worth $252,000 after buying an additional 2,584 shares during the last quarter. CWM LLC boosted its holdings in shares of Flowserve by 218.5% in the 4th quarter. CWM LLC now owns 6,325 shares of the industrial products company’s stock valued at $261,000 after buying an additional 4,339 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of Flowserve during the 4th quarter valued at about $621,000. Finally, Bailard Inc. bought a new stake in shares of Flowserve during the 4th quarter valued at about $365,000. Institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FLS. Robert W. Baird lifted their target price on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Mizuho restated a “buy” rating and set a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. UBS Group upped their price objective on Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. TD Cowen raised their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America boosted their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.11.

Flowserve Trading Up 2.2 %

NYSE:FLS opened at $49.12 on Monday. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 1.19 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.28 and a current ratio of 2.00. Flowserve Co. has a 1 year low of $35.31 and a 1 year high of $52.09. The business has a fifty day moving average of $48.02 and a 200-day moving average of $46.79.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. Flowserve’s revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Flowserve Co. will post 2.72 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.71%. Flowserve’s dividend payout ratio is presently 47.46%.

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.