Flowserve Corporation (NYSE:FLS) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,552 shares of the industrial products company's stock after purchasing an additional 81,331 shares during the period. New York State Common Retirement Fund owned approximately 0.24% of Flowserve worth $15,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. increased its holdings 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 buying an additional 236 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Flowserve by 0.9% in the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company's stock valued at $1,378,000 after buying an additional 238 shares in the last quarter. KBC Group NV increased its holdings 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 buying an additional 258 shares in the last quarter. Xponance Inc. increased its holdings in Flowserve by 1.8% in the first quarter. Xponance Inc. now owns 15,407 shares of the industrial products company's stock valued at $752,000 after buying an additional 267 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Flowserve by 34.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FLS shares. Stifel Nicolaus boosted their target price 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. Royal Bank Of Canada boosted their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Mizuho set a $60.00 target price on shares of Flowserve in a research note on Friday, May 16th. Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Citigroup boosted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday. One research 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $63.00.

Flowserve Price Performance

NYSE FLS traded up $0.01 during trading hours on Friday, hitting $54.76. 1,578,000 shares of the company's stock traded hands, compared to its average volume of 1,613,257. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08. The company has a market capitalization of $7.16 billion, a PE ratio of 25.59, a PEG ratio of 1.19 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.07 and a quick ratio of 1.46. The firm's 50-day moving average is $50.54 and its 200-day moving average is $52.00.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $1.11 billion. During the same quarter in the prior year, the company earned $0.58 EPS. Flowserve's revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were paid 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 1.53%. Flowserve's dividend payout ratio 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.