BNP Paribas Financial Markets Acquires 143,443 Shares of Flowserve Co. (NYSE:FLS)

BNP Paribas Financial Markets grew its holdings in Flowserve Co. (NYSE:FLS) by 136.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 248,327 shares of the industrial products company’s stock after purchasing an additional 143,443 shares during the period. BNP Paribas Financial Markets owned approximately 0.19% of Flowserve worth $14,284,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FLS. Arizona State Retirement System grew its position in Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after acquiring an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Flowserve by 0.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock valued at $1,527,000 after purchasing an additional 236 shares during the last quarter. Savant Capital LLC increased its position in Flowserve by 0.4% during the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after purchasing an additional 251 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Flowserve by 34.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 275 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after buying an additional 278 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 0.3 %

FLS opened at $47.75 on Friday. Flowserve Co. has a twelve month low of $37.34 and a twelve month high of $65.08. The company has a fifty day moving average of $46.18 and a 200-day moving average of $54.80. The stock has a market cap of $6.24 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. On average, sell-side analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Analyst Ratings Changes

A number of brokerages have recently commented on FLS. Robert W. Baird dropped their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus increased their target price on Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada boosted their price target on Flowserve from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Citigroup dropped their price objective on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $64.11.

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.