New York State Common Retirement Fund Raises Stock Holdings in Flowserve Co. (NYSE:FLS)

New York State Common Retirement Fund grew its position in Flowserve Co. (NYSE:FLS) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 231,221 shares of the industrial products company’s stock after purchasing an additional 11,245 shares during the period. New York State Common Retirement Fund’s holdings in Flowserve were worth $13,300,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Flowserve in the fourth quarter valued at approximately $284,000. Truist Financial Corp boosted its holdings in shares of Flowserve by 32.3% in the 4th quarter. Truist Financial Corp now owns 21,534 shares of the industrial products company’s stock valued at $1,239,000 after acquiring an additional 5,262 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Flowserve during the fourth quarter worth about $234,000. Capital Performance Advisors LLP grew its position in Flowserve by 64.0% during the fourth quarter. Capital Performance Advisors LLP now owns 3,506 shares of the industrial products company’s stock valued at $202,000 after buying an additional 1,368 shares during the period. Finally, Keystone Financial Services acquired a new stake in shares of Flowserve during the 4th quarter valued at about $213,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Down 3.6 %

Shares of NYSE FLS opened at $55.38 on Monday. The firm has a market cap of $7.28 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 1.35 and a beta of 1.42. The firm’s 50 day moving average price is $60.57 and its 200 day moving average price is $55.93. Flowserve Co. has a 1 year low of $41.60 and a 1 year high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, sell-side analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FLS shares. Citigroup cut their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Bank of America lifted their price target on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird upped their price objective on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Stifel Nicolaus increased their target price on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.60.

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.