State of Wyoming Buys New Stake in Flowserve Co. (NYSE:FLS)

State of Wyoming acquired a new stake in Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,315 shares of the industrial products company's stock, valued at approximately $363,000.

Other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC increased its holdings in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after buying an additional 479 shares in the last quarter. Colonial Trust Co SC boosted its holdings in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 478 shares during the last quarter. UMB Bank n.a. boosted 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 valued at $41,000 after purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 595 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings 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 valued at $62,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Trading Up 2.8%

Shares of NYSE:FLS traded up $1.38 during mid-day trading on Tuesday, hitting $50.99. The stock had a trading volume of 160,654 shares, compared to its average volume of 1,566,309. Flowserve Co. has a 12-month low of $37.34 and a 12-month 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. The company has a market cap of $6.67 billion, a PE ratio of 23.82, a P/E/G ratio of 1.35 and a beta of 1.21. The company's 50 day moving average is $46.57 and its 200-day moving average is $54.48.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Flowserve's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. On average, sell-side analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.21 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.65%. Flowserve's payout ratio is presently 39.25%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Mizuho set a $60.00 price target on shares of Flowserve in a research note on Friday, May 16th. Citigroup dropped their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus lifted their price target on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flowserve presently has a consensus rating of "Buy" and a consensus price target of $63.00.

Flowserve Company 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.