Alpine Woods Capital Investors LLC Buys 7,591 Shares of Flowserve Corporation (NYSE:FLS)

Alpine Woods Capital Investors LLC raised its position in Flowserve Corporation (NYSE:FLS - Free Report) by 19.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,451 shares of the industrial products company's stock after purchasing an additional 7,591 shares during the period. Alpine Woods Capital Investors LLC's holdings in Flowserve were worth $2,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV increased its stake in Flowserve by 4.8% in the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock valued at $277,000 after purchasing an additional 258 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Flowserve by 26.6% during the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company's stock valued at $112,000 after acquiring an additional 481 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new position in shares of Flowserve during the 1st quarter worth about $216,000. American Century Companies Inc. boosted its position in shares of Flowserve by 25.9% in the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock worth $6,384,000 after acquiring an additional 22,850 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Flowserve by 453.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company's stock valued at $8,402,000 after purchasing an additional 139,939 shares during the period. Hedge funds and other institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

FLS has been the subject of a number of research reports. Citigroup decreased their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus increased their price objective on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. The Goldman Sachs Group increased their target price on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday. Mizuho set a $60.00 price objective on shares of Flowserve in a research note on Friday, May 16th. Finally, Robert W. Baird decreased their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $62.00.

Flowserve Price Performance

Shares of FLS stock traded down $0.48 during trading hours on Friday, hitting $53.66. 1,770,068 shares of the company's stock were exchanged, compared to its average volume of 1,591,794. The stock's 50-day moving average is $49.89 and its 200-day moving average is $52.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.07 and a quick ratio of 1.46. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $65.08. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. As a group, research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.57%. Flowserve's dividend payout ratio is currently 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.