Retirement Systems of Alabama Purchases 506 Shares of Flowserve Co. (NYSE:FLS)

Retirement Systems of Alabama increased its position in Flowserve Co. (NYSE:FLS) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,332 shares of the industrial products company’s stock after acquiring an additional 506 shares during the period. Retirement Systems of Alabama owned about 0.13% of Flowserve worth $6,774,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FLS. Contravisory Investment Management Inc. bought a new stake in shares of Flowserve during the 4th quarter valued at about $26,000. USA Financial Formulas bought a new stake in Flowserve during the third quarter valued at approximately $107,000. Panagora Asset Management Inc. purchased a new stake in Flowserve during the third quarter valued at approximately $201,000. Blair William & Co. IL bought a new position in Flowserve in the third quarter worth approximately $211,000. Finally, Pathstone Family Office LLC purchased a new position in shares of Flowserve during the 3rd quarter worth $229,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price objective on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. UBS Group boosted their price objective on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen raised their target price on shares of Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Flowserve Price Performance

FLS stock opened at $47.52 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.88. The company’s fifty day moving average price is $45.45 and its 200-day moving average price is $41.58. Flowserve Co. has a one year low of $32.49 and a one year high of $49.35. The company has a market capitalization of $6.26 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.24 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, equities analysts anticipate that Flowserve Co. will post 2.62 EPS for the current fiscal year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

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.