Treasurer of the State of North Carolina Raises Holdings in Flowserve Co. (NYSE:FLS)

Treasurer of the State of North Carolina boosted its stake in shares of Flowserve Co. (NYSE:FLS) by 0.6% in the 4th quarter, Holdings Channel reports. The fund owned 57,739 shares of the industrial products company’s stock after buying an additional 360 shares during the period. Treasurer of the State of North Carolina’s holdings in Flowserve were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Flowserve by 17.8% during the 3rd quarter. Barclays PLC now owns 229,379 shares of the industrial products company’s stock worth $11,857,000 after acquiring an additional 34,645 shares in the last quarter. Geode Capital Management LLC raised its holdings in Flowserve by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock worth $113,851,000 after purchasing an additional 23,529 shares during the period. Virtu Financial LLC purchased a new position in Flowserve during the third quarter worth approximately $227,000. Sanctuary Advisors LLC grew its holdings in Flowserve by 35.9% in the third quarter. Sanctuary Advisors LLC now owns 17,686 shares of the industrial products company’s stock valued at $914,000 after purchasing an additional 4,670 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the 3rd quarter worth approximately $29,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on shares of Flowserve from $77.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada cut their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Monday, March 17th. Finally, Citigroup reduced their target price on Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and an average target price of $64.30.

Flowserve Stock Performance

NYSE FLS opened at $42.16 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock’s fifty day moving average is $50.69 and its two-hundred day moving average is $55.83. The firm has a market capitalization of $5.55 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.99%. Flowserve’s dividend payout ratio is currently 39.25%.

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.