Wolverine Asset Management LLC Takes Position in Flowserve Co. (NYSE:FLS)

Wolverine Asset Management LLC acquired a new stake in Flowserve Co. (NYSE:FLS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 75,000 shares of the industrial products company’s stock, valued at approximately $3,092,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Treasurer of the State of North Carolina lifted its holdings in Flowserve by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company’s stock worth $2,285,000 after buying an additional 290 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in 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 buying an additional 291 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in 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 buying an additional 409 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in 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 buying an additional 450 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in 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 buying an additional 505 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLS has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on Flowserve from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Citigroup increased their price target on Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada increased their price target on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 22nd. Robert W. Baird increased their price target on Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flowserve currently has an average rating of “Hold” and a consensus price target of $48.25.

Flowserve Stock Down 0.5 %

FLS stock traded down $0.22 during trading hours on Wednesday, reaching $46.86. 285,356 shares of the stock were exchanged, compared to its average volume of 1,066,974. The firm’s 50-day moving average is $44.60 and its 200-day moving average is $41.07. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.31 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. Flowserve Co. has a 12 month low of $32.05 and a 12 month high of $48.31.

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

Flowserve Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.21 dividend. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.79%. Flowserve’s dividend payout ratio (DPR) is presently 59.57%.

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.