Engine NO. 1 LLC Takes Position in Flowserve Co. (NYSE:FLS)

Engine NO. 1 LLC bought a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 128,000 shares of the industrial products company's stock, valued at approximately $7,363,000. Flowserve makes up 19.6% of Engine NO. 1 LLC's investment portfolio, making the stock its 4th biggest position. Engine NO. 1 LLC owned approximately 0.10% of Flowserve as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Arizona State Retirement System boosted its holdings 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. Edmond DE Rothschild Holding S.A. boosted its stake in Flowserve by 0.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock valued at $1,527,000 after acquiring an additional 236 shares during the period. Savant Capital LLC grew its holdings in shares of Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock valued at $3,541,000 after purchasing an additional 251 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after purchasing an additional 275 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after purchasing an additional 278 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on FLS shares. Citigroup lowered their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Robert W. Baird raised shares of 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. Mizuho boosted their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of "Moderate Buy" and an average price target of $64.30.

Flowserve Price Performance

FLS traded down $0.39 during trading on Monday, reaching $44.43. The stock had a trading volume of 554,183 shares, compared to its average volume of 1,270,574. The stock has a 50 day moving average of $47.86 and a two-hundred day moving average of $55.35. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. 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 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 the consensus estimate of $1.21 billion. As a group, equities analysts anticipate that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.89%. Flowserve's dividend payout ratio (DPR) is 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.