California Public Employees Retirement System Sells 13,114 Shares of Flowserve Co. (NYSE:FLS)

California Public Employees Retirement System decreased its position in Flowserve Co. (NYSE:FLS) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,346 shares of the industrial products company’s stock after selling 13,114 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Flowserve worth $12,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in Flowserve by 15.6% in the 3rd quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock worth $46,170,000 after acquiring an additional 120,396 shares during the period. Captrust Financial Advisors lifted its position in shares of Flowserve by 7.3% during the 3rd quarter. Captrust Financial Advisors now owns 17,743 shares of the industrial products company’s stock worth $917,000 after purchasing an additional 1,209 shares during the last quarter. Hilltop Holdings Inc. bought a new stake in Flowserve during the 3rd quarter valued at approximately $432,000. HighTower Advisors LLC grew its holdings in Flowserve by 0.6% in the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after buying an additional 215 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Flowserve in the 3rd quarter worth approximately $295,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Citigroup reduced their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Stifel Nicolaus increased their target price on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Price Performance

Shares of FLS stock opened at $40.07 on Friday. The stock’s fifty day simple moving average is $54.75 and its 200 day simple moving average is $56.48. Flowserve Co. has a one year low of $38.23 and a one year high of $65.08. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

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.