New York State Teachers Retirement System Buys 16,926 Shares of Flowserve Co. (NYSE:FLS)

New York State Teachers Retirement System increased its stake in Flowserve Co. (NYSE:FLS) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,371 shares of the industrial products company’s stock after acquiring an additional 16,926 shares during the quarter. New York State Teachers Retirement System’s holdings in Flowserve were worth $7,721,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FLS. Millennium Management LLC grew its position in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Flowserve in the 1st quarter valued at $41,413,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Flowserve in the 2nd quarter valued at $37,100,000. AQR Capital Management LLC grew its position in Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after purchasing an additional 663,631 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Flowserve by 5,256.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after purchasing an additional 600,866 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of analyst reports. TD Cowen lifted their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective on the stock. Mizuho lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America boosted their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.10.

Flowserve Stock Up 0.4 %

NYSE FLS opened at $53.74 on Tuesday. The stock’s 50-day moving average price is $50.90 and its 200-day moving average price is $49.09. The company has a quick ratio of 1.40, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 52 week low of $36.85 and a 52 week high of $55.90. The company has a market capitalization of $7.06 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 1.27 and a beta of 1.38.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business earned $0.50 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Flowserve Co. will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is currently 41.58%.

Flowserve Company 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.