Teachers Retirement System of The State of Kentucky continued to hold its stake in shares of Flowserve Corp (NYSE:FLS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,200 shares of the company’s stock at the end of the fourth quarter. Teachers Retirement System of The State of Kentucky’s holdings in Flowserve Corp were worth $875,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of FLS. Neville Rodie & Shaw Inc. increased its stake in shares of Flowserve Corp by 114.2% in the third quarter. Neville Rodie & Shaw Inc. now owns 65,080 shares of the company’s stock valued at $3,139,000 after buying an additional 34,700 shares during the period. GHP Investment Advisors Inc. increased its stake in Flowserve Corp by 4.1% in the third quarter. GHP Investment Advisors Inc. now owns 14,376 shares of the company’s stock worth $693,000 after buying an additional 567 shares during the last quarter. Hermes Investment Management Ltd. increased its stake in Flowserve Corp by 3,921.6% in the third quarter. Hermes Investment Management Ltd. now owns 205,100 shares of the company’s stock worth $9,894,000 after buying an additional 200,000 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in Flowserve Corp by 3.4% in the third quarter. Reilly Financial Advisors LLC now owns 150,181 shares of the company’s stock worth $7,245,000 after buying an additional 4,920 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in Flowserve Corp by 2.6% in the third quarter. CENTRAL TRUST Co now owns 6,809 shares of the company’s stock worth $328,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 98.48% of the company’s stock.
Flowserve Corp (NYSE:FLS) opened at 46.78 on Tuesday. Flowserve Corp has a 12-month low of $39.13 and a 12-month high of $52.50. The company has a 50-day moving average of $48.28 and a 200 day moving average of $47.40. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 42.14 and a beta of 1.58.
Flowserve Corp (NYSE:FLS) last posted its quarterly earnings data on Thursday, February 16th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.07. Flowserve Corp had a net margin of 3.60% and a return on equity of 17.93%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. Equities analysts expect that Flowserve Corp will post $1.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 7th. Shareholders of record on Friday, March 24th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Wednesday, March 22nd. Flowserve Corp’s dividend payout ratio (DPR) is 66.09%.
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A number of research analysts recently issued reports on FLS shares. Robert W. Baird cut shares of Flowserve Corp from a “neutral” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a research note on Monday, December 12th. Seaport Global Securities raised shares of Flowserve Corp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $60.00 in a research note on Monday, January 23rd. Bank of America Corp raised shares of Flowserve Corp from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 8th. Royal Bank of Canada reissued a “sell” rating and issued a $38.00 price objective on shares of Flowserve Corp in a research note on Thursday, January 5th. Finally, Stifel Nicolaus lifted their price objective on shares of Flowserve Corp from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, December 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $46.94.
Flowserve Corp Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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