Rhumbline Advisers Sells 2,143 Shares of Flowserve Co. (NYSE:FLS)

Rhumbline Advisers decreased its holdings in shares of Flowserve Co. (NYSE:FLS) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 373,371 shares of the industrial products company’s stock after selling 2,143 shares during the period. Rhumbline Advisers owned approximately 0.29% of Flowserve worth $18,235,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. New York Life Investment Management LLC bought a new stake in Flowserve during the fourth quarter valued at $800,000. American Century Companies Inc. lifted its stake in Flowserve by 25.9% during the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock worth $6,384,000 after purchasing an additional 22,850 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Flowserve during the fourth quarter worth about $422,000. Commonwealth Equity Services LLC lifted its stake in Flowserve by 103.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company’s stock worth $1,197,000 after purchasing an additional 10,557 shares during the last quarter. Finally, Avantax Advisory Services Inc. bought a new stake in Flowserve during the fourth quarter worth about $278,000. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FLS shares. Stifel Nicolaus lifted their price target on Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Robert W. Baird dropped their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Mizuho set a $60.00 price target on Flowserve in a research note on Friday, May 16th. Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $63.00.

Flowserve Stock Up 3.6%

FLS opened at $48.90 on Friday. The company has a market cap of $6.39 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.35 and a beta of 1.21. The business’s 50-day moving average price is $46.36 and its 200-day moving average price is $53.90. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, equities analysts expect that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.72%. Flowserve’s dividend payout ratio is presently 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.