75,000 Shares in Flowserve Co. (NYSE:FLS) Bought by Wolverine Asset Management LLC

Wolverine Asset Management LLC bought a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 75,000 shares of the industrial products company's stock, valued at approximately $3,092,000. Wolverine Asset Management LLC owned 0.06% of Flowserve as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FLS. Treasurer of the State of North Carolina grew its stake in Flowserve by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company's stock valued at $2,285,000 after purchasing an additional 290 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Flowserve by 3.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,606 shares of the industrial products company's stock worth $382,000 after acquiring an additional 291 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Flowserve by 6.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,240 shares of the industrial products company's stock worth $288,000 after acquiring an additional 409 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Flowserve by 0.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 52,148 shares of the industrial products company's stock worth $2,150,000 after acquiring an additional 450 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Flowserve by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 37,342 shares of the industrial products company's stock worth $1,485,000 after acquiring an additional 505 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FLS shares. Mizuho boosted their price objective on Flowserve from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Stifel Nicolaus upped their price objective on Flowserve from $51.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. StockNews.com lowered Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 18th. Robert W. Baird increased their price target on Flowserve from $46.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada increased their price target on Flowserve from $43.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Flowserve has an average rating of "Hold" and an average price target of $48.25.

Flowserve Trading Down 0.7 %

Shares of FLS stock traded down $0.35 during trading hours on Wednesday, reaching $46.73. The company had a trading volume of 672,986 shares, compared to its average volume of 1,073,353. The company has a 50 day moving average of $44.72 and a 200 day moving average of $41.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 1.31 and a beta of 1.46. Flowserve Co. has a 1-year low of $32.05 and a 1-year high of $48.31.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The firm's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. On average, equities research analysts anticipate that Flowserve Co. will post 2.55 EPS for the current year.

Flowserve Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Flowserve's previous quarterly dividend of $0.20. Flowserve's dividend payout ratio (DPR) is presently 59.57%.

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.