Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Flowserve Corp (NYSE:FLS) by 42.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,674 shares of the industrial products company’s stock after acquiring an additional 13,056 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flowserve were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of FLS. Amundi Pioneer Asset Management Inc. raised its holdings in Flowserve by 3.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 129,752 shares of the industrial products company’s stock valued at $5,858,000 after acquiring an additional 4,849 shares during the period. Wealthfront Advisers LLC bought a new stake in Flowserve during the 4th quarter valued at $611,000. Campbell & CO Investment Adviser LLC bought a new stake in Flowserve during the 4th quarter valued at $736,000. Strs Ohio raised its holdings in Flowserve by 104.9% during the 4th quarter. Strs Ohio now owns 13,389 shares of the industrial products company’s stock valued at $666,000 after acquiring an additional 6,853 shares during the period. Finally, CWM Advisors LLC raised its holdings in Flowserve by 8.4% during the 4th quarter. CWM Advisors LLC now owns 12,274 shares of the industrial products company’s stock valued at $611,000 after acquiring an additional 949 shares during the period. 97.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:FLS opened at $25.02 on Friday. Flowserve Corp has a 52-week low of $18.98 and a 52-week high of $53.98. The firm has a fifty day moving average of $25.40 and a 200 day moving average of $39.56. The firm has a market capitalization of $3.26 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.55 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.57 and a current ratio of 2.19.

Flowserve (NYSE:FLS) last announced its earnings results on Thursday, May 7th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.20). Flowserve had a return on equity of 14.99% and a net margin of 4.96%. The company had revenue of $894.50 million during the quarter, compared to analysts’ expectations of $874.95 million. During the same quarter last year, the firm posted $0.41 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts forecast that Flowserve Corp will post 1.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Friday, June 19th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.20%. Flowserve’s dividend payout ratio (DPR) is presently 36.36%.

In other Flowserve news, Director Sujeet Chand purchased 1,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $43.57 per share, for a total transaction of $43,570.00. 0.36% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on the stock. TheStreet cut shares of Flowserve from a “b-” rating to a “c” rating in a report on Tuesday, March 10th. Royal Bank of Canada decreased their price target on shares of Flowserve from $24.00 to $22.00 and set a “sector perform” rating on the stock in a report on Monday, May 11th. Stifel Nicolaus decreased their price target on shares of Flowserve from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Zacks Investment Research cut shares of Flowserve from a “hold” rating to a “sell” rating and set a $30.00 price target on the stock. in a report on Thursday, April 9th. Finally, Morgan Stanley upped their price target on shares of Flowserve from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $29.78.

Flowserve Profile

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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