Canada Pension Plan Investment Board Boosts Holdings in Flowserve Co. (NYSE:FLS)

Canada Pension Plan Investment Board raised its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 172.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 508,200 shares of the industrial products company's stock after purchasing an additional 321,600 shares during the quarter. Canada Pension Plan Investment Board owned 0.39% of Flowserve worth $29,232,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC increased its position in Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 479 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Flowserve during the third quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after buying an additional 278 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after buying an additional 595 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 275 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Price Performance

NYSE FLS traded up $0.18 during trading hours on Friday, reaching $44.80. The company's stock had a trading volume of 312,221 shares, compared to its average volume of 1,265,474. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.35 and a beta of 1.22. The company's 50-day moving average is $48.23 and its two-hundred day moving average is $55.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts' consensus estimates 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, equities analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.88%. Flowserve's dividend payout ratio is presently 39.25%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FLS. Royal Bank of Canada dropped their price objective on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Mizuho raised their price objective on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. TD Cowen lifted their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Citigroup dropped their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus decreased their target price on Flowserve from $77.00 to $50.00 and set a "buy" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.30.

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.