Envestnet Asset Management Inc. Has $1.70 Million Position in Flowserve Co. (NYSE:FLS)

Envestnet Asset Management Inc. grew its holdings in shares of Flowserve Co. (NYSE:FLS – Get Rating) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,451 shares of the industrial products company’s stock after purchasing an additional 1,862 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Flowserve were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Flowserve by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,796,396 shares of the industrial products company’s stock worth $310,952,000 after acquiring an additional 160,054 shares during the period. BlackRock Inc. boosted its position in Flowserve by 0.8% in the first quarter. BlackRock Inc. now owns 10,793,498 shares of the industrial products company’s stock valued at $387,485,000 after buying an additional 88,950 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Flowserve by 61.0% in the third quarter. Bank of New York Mellon Corp now owns 4,920,393 shares of the industrial products company’s stock valued at $119,564,000 after buying an additional 1,864,418 shares in the last quarter. Wellington Management Group LLP acquired a new position in Flowserve in the first quarter valued at about $163,840,000. Finally, State Street Corp raised its stake in shares of Flowserve by 5.0% in the first quarter. State Street Corp now owns 3,554,081 shares of the industrial products company’s stock worth $128,290,000 after acquiring an additional 168,438 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

Flowserve Stock Down 0.5 %

Flowserve stock opened at $35.07 on Monday. The firm has a 50 day moving average price of $33.30 and a two-hundred day moving average price of $32.80. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 0.89 and a beta of 1.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.92. Flowserve Co. has a 52-week low of $23.89 and a 52-week high of $38.86.

Flowserve (NYSE:FLS – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $980.31 million during the quarter, compared to the consensus estimate of $898.83 million. Flowserve had a net margin of 6.13% and a return on equity of 10.44%. Flowserve’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. Equities analysts predict that Flowserve Co. will post 1.81 EPS for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 7th. Shareholders of record on Friday, March 24th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Thursday, March 23rd. Flowserve’s dividend payout ratio is 45.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FLS shares. TheStreet raised shares of Flowserve from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. Bank of America raised shares of Flowserve from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $40.00 in a research report on Monday, January 30th. They noted that the move was a valuation call. Robert W. Baird increased their price objective on shares of Flowserve from $32.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. Morgan Stanley raised their price target on shares of Flowserve from $31.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 23rd. Finally, StockNews.com initiated coverage on shares of Flowserve in a research note on Thursday. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.78.

About Flowserve

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Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through Flowserve Pumps Division and Flow Control Division segments. The Flowserve Pumps Division provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts, and related services.