Amalgamated Bank lifted its position in shares of Flowserve Corp (NYSE:FLS) by 5.6% during the fourth quarter, HoldingsChannel reports. The firm owned 27,072 shares of the industrial products company’s stock after purchasing an additional 1,426 shares during the quarter. Amalgamated Bank’s holdings in Flowserve were worth $1,141,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Investment Managment Co. acquired a new stake in Flowserve in the fourth quarter valued at $107,000. Assetmark Inc. raised its holdings in Flowserve by 26,030.0% in the fourth quarter. Assetmark Inc. now owns 2,613 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 2,603 shares in the last quarter. Zions Bancorporation acquired a new stake in Flowserve in the third quarter valued at $117,000. Robeco Institutional Asset Management B.V. acquired a new stake in Flowserve in the fourth quarter valued at $118,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Flowserve in the fourth quarter valued at $122,000.
Several research firms recently issued reports on FLS. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of Flowserve in a report on Friday, December 15th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $47.00 price target (up from $43.00) on shares of Flowserve in a report on Tuesday, January 16th. Royal Bank of Canada raised shares of Flowserve from an “underperform” rating to a “sector perform” rating in a report on Tuesday, February 20th. Goldman Sachs Group cut shares of Flowserve from a “neutral” rating to a “sell” rating and cut their price target for the company from $42.65 to $37.00 in a report on Thursday, December 7th. Finally, Zacks Investment Research cut shares of Flowserve from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.67.
Shares of Flowserve Corp (NYSE:FLS) opened at $44.60 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.35 and a debt-to-equity ratio of 0.90. Flowserve Corp has a 12 month low of $37.51 and a 12 month high of $51.92. The firm has a market cap of $5,850.00, a price-to-earnings ratio of 49.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.53.
Flowserve (NYSE:FLS) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.02). Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. equities research analysts forecast that Flowserve Corp will post 1.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.76 annualized dividend and a yield of 1.70%. Flowserve’s payout ratio is 84.44%.
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Flowserve Company Profile
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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