Teachers Advisors LLC increased its position in shares of Flowserve (NYSE:FLS) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,171 shares of the industrial products company’s stock after purchasing an additional 7,457 shares during the period. Teachers Advisors LLC owned 0.14% of Flowserve worth $7,801,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Permian Investment Partners LP acquired a new stake in Flowserve during the third quarter worth about $28,535,000. California Public Employees Retirement System increased its position in Flowserve by 5.4% during the fourth quarter. California Public Employees Retirement System now owns 290,435 shares of the industrial products company’s stock worth $12,236,000 after purchasing an additional 14,798 shares during the last quarter. Nationwide Fund Advisors increased its position in Flowserve by 11.6% during the third quarter. Nationwide Fund Advisors now owns 49,927 shares of the industrial products company’s stock worth $2,126,000 after purchasing an additional 5,200 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Flowserve by 2.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 657,520 shares of the industrial products company’s stock worth $28,004,000 after purchasing an additional 13,817 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Flowserve during the fourth quarter worth about $5,909,000.
Shares of FLS stock opened at $44.81 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $5,761.64, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 1.49 and a beta of 1.45. Flowserve has a fifty-two week low of $37.51 and a fifty-two week high of $51.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 29th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Wednesday, March 28th. Flowserve’s dividend payout ratio (DPR) is currently 55.88%.
Several research firms recently issued reports on FLS. Stifel Nicolaus cut their price objective on shares of Flowserve from $47.00 to $44.00 and set a “hold” rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada upgraded shares of Flowserve from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, February 20th. Zacks Investment Research cut shares of Flowserve from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Robert W. Baird reiterated a “hold” rating and set a $45.00 price target on shares of Flowserve in a research report on Friday, December 15th. Finally, Goldman Sachs cut shares of Flowserve from a “neutral” rating to a “sell” rating and dropped their price target for the company from $42.65 to $37.00 in a research report on Thursday, December 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Flowserve currently has a consensus rating of “Hold” and an average target price of $43.67.
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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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