Flowserve Co. (NYSE:FLS) Shares Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,089 shares of the industrial products company's stock after purchasing an additional 23,380 shares during the quarter. Gotham Asset Management LLC owned about 0.06% of Flowserve worth $4,837,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. New York Life Investment Management LLC purchased a new position in Flowserve in the fourth quarter worth $800,000. American Century Companies Inc. raised its position in 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 in the last quarter. New Age Alpha Advisors LLC purchased a new position in Flowserve in the fourth quarter worth $422,000. Commonwealth Equity Services LLC raised its position in Flowserve by 103.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock worth $1,197,000 after acquiring an additional 10,557 shares in the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in Flowserve in the fourth quarter worth $278,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on FLS. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Citigroup lowered their target price on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada upped their target price on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Stifel Nicolaus upped their target price on Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Robert W. Baird lowered their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $64.11.

Flowserve Price Performance

Shares of FLS traded up $0.52 during trading hours on Friday, reaching $51.60. 1,701,566 shares of the company traded hands, compared to its average volume of 1,295,685. 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 stock has a market capitalization of $6.75 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The stock has a fifty day simple moving average of $46.50 and a 200 day simple moving average of $54.74.

Flowserve (NYSE:FLS - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. As a group, research analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, March 28th. Flowserve's payout ratio is currently 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.