Amalgamated Bank Decreases Stake in Flowserve Co. (NYSE:FLS)

Amalgamated Bank decreased its holdings in Flowserve Co. (NYSE:FLS) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,570 shares of the industrial products company’s stock after selling 573 shares during the quarter. Amalgamated Bank owned about 0.07% of Flowserve worth $3,733,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. UBS Group AG lifted its stake in shares of Flowserve by 332.7% in the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company’s stock valued at $10,725,000 after purchasing an additional 207,346 shares during the period. HighTower Advisors LLC lifted its position in shares of Flowserve by 4.8% during the 3rd quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company’s stock valued at $1,936,000 after acquiring an additional 2,235 shares during the period. Peregrine Capital Management LLC purchased a new stake in shares of Flowserve during the 4th quarter worth approximately $6,031,000. Wakefield Asset Management LLLP acquired a new stake in shares of Flowserve in the 4th quarter worth approximately $866,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Flowserve in the 4th quarter valued at approximately $5,970,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 0.9 %

Shares of NYSE FLS opened at $49.35 on Friday. The firm’s 50 day moving average price is $45.95 and its 200 day moving average price is $41.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88. The firm has a market cap of $6.50 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. Flowserve Co. has a 1 year low of $32.49 and a 1 year high of $49.38.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share (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 return on equity of 15.50% and a net margin of 5.29%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Flowserve Co. will post 2.62 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

A number of research firms have commented on FLS. Royal Bank of Canada boosted their target price on Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Mizuho reiterated a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Citigroup raised their target price on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. UBS Group upped their price target on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, TD Cowen increased their price target on shares of Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.55.

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.