New York State Common Retirement Fund Has $15.27 Million Stock Position in Flowserve Corporation (NYSE:FLS)

New York State Common Retirement Fund lifted its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 35.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 312,552 shares of the industrial products company's stock after acquiring 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 SEC.

A number of other institutional investors have also recently bought and sold shares of FLS. FIL Ltd boosted its stake in shares of Flowserve by 71.7% during the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after purchasing an additional 2,193,904 shares during the period. Norges Bank purchased a new stake in shares of Flowserve during the 4th quarter worth $94,629,000. Driehaus Capital Management LLC grew its holdings in Flowserve by 307.1% during the fourth quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock worth $108,651,000 after acquiring an additional 1,424,948 shares during the period. Invesco Ltd. lifted its position in Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after buying an additional 714,063 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Flowserve by 57.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company's stock valued at $82,859,000 after purchasing an additional 527,250 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of recent research reports. Citigroup boosted their price objective on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. Stifel Nicolaus upped their target price on shares of Flowserve from $59.00 to $63.00 and gave the company a "buy" rating in a report on Monday. Finally, Robert W. Baird lowered their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $64.00.

Flowserve Price Performance

Flowserve stock traded down $1.12 during midday trading on Monday, reaching $53.56. The company's stock had a trading volume of 1,148,622 shares, compared to its average volume of 1,615,276. The stock's 50 day simple moving average is $50.54 and its 200 day simple moving average is $51.93. The firm has a market capitalization of $7.00 billion, a PE ratio of 25.03, a P/E/G ratio of 1.21 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08.

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

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a $0.21 dividend. The ex-dividend date was Friday, June 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. Flowserve's payout ratio is currently 39.25%.

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.