Pinebridge Investments L.P. Raises Stock Holdings in Flowserve Co. (NYSE:FLS)

Pinebridge Investments L.P. increased its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,537 shares of the industrial products company's stock after acquiring an additional 14,227 shares during the quarter. Pinebridge Investments L.P.'s holdings in Flowserve were worth $2,734,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in shares of Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock valued at $2,193,000 after acquiring an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of 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 worth $1,527,000 after buying an additional 236 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock worth $3,541,000 after buying an additional 251 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Flowserve by 34.6% during 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 during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 278 shares during the period. Institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

Shares of NYSE FLS traded up $0.32 during mid-day trading on Wednesday, reaching $45.20. The company's stock had a trading volume of 4,341,457 shares, compared to its average volume of 1,291,448. The stock has a market capitalization of $5.95 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. The stock has a 50-day moving average of $47.32 and a two-hundred day moving average of $55.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping 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 net margin of 6.20% and a return on equity of 17.08%. The business's revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.58 EPS. On average, equities research analysts anticipate that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.86%. Flowserve's payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen boosted their price target on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Robert W. Baird raised shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target for the company in a research report on Monday, March 17th. StockNews.com lowered shares of Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Citigroup reduced their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.30.

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.