Flowserve Co. (NYSE:FLS) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. lessened its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,900 shares of the industrial products company's stock after selling 17,630 shares during the quarter. Nippon Life Global Investors Americas Inc. owned 0.10% of Flowserve worth $7,439,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLS. Arizona State Retirement System boosted its holdings in Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock worth $2,193,000 after acquiring an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. boosted its holdings in Flowserve by 0.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after acquiring an additional 236 shares during the period. Savant Capital LLC boosted its holdings in Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock worth $3,541,000 after acquiring an additional 251 shares during the period. Quadrant Capital Group LLC boosted its holdings in Flowserve by 34.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after acquiring an additional 275 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after acquiring an additional 278 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Wall Street Analyst Weigh In

FLS has been the subject of several research analyst reports. TD Cowen increased their target price on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. StockNews.com cut Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Mizuho increased their target price on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target on the stock in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.30.

Flowserve Stock Performance

NYSE FLS traded up $0.27 during trading hours on Friday, hitting $44.89. The company had a trading volume of 1,262,659 shares, compared to its average volume of 1,273,322. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. 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 business has a fifty day simple moving average of $47.86 and a 200-day simple moving average of $55.35. The firm has a market cap of $5.91 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Equities analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve's dividend payout ratio (DPR) is 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.