Flowserve Co. (NYSE:FLS) Shares Bought by Swiss National Bank

Swiss National Bank raised its stake in Flowserve Co. (NYSE:FLS) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 258,400 shares of the industrial products company’s stock after buying an additional 1,200 shares during the quarter. Swiss National Bank owned approximately 0.20% of Flowserve worth $14,863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. HighTower Advisors LLC increased its position in Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after purchasing an additional 215 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after buying an additional 225 shares during the period. Savant Capital LLC increased its holdings in shares of Flowserve by 0.4% during the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after buying an additional 251 shares during the last quarter. National Bank of Canada FI raised its position in shares of Flowserve by 4.1% during the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after buying an additional 252 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Flowserve by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after acquiring an additional 277 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FLS. Robert W. Baird raised Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price for the company in a research note on Monday. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday. Mizuho upped their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, TD Cowen boosted their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Two 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Up 2.8 %

Flowserve stock opened at $51.36 on Thursday. The firm has a market capitalization of $6.77 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve Co. has a twelve month low of $43.66 and a twelve month high of $65.08. The stock’s fifty day simple moving average is $57.85 and its 200-day simple moving average is $56.28.

Flowserve (NYSE:FLS) last issued 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). The company 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, equities analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

About Flowserve

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.