Public Employees Retirement System of Ohio Has $2.76 Million Stake in Flowserve Co. (NYSE:FLS)

Public Employees Retirement System of Ohio grew its holdings in Flowserve Co. (NYSE:FLS) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,380 shares of the industrial products company’s stock after purchasing an additional 1,191 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Flowserve were worth $2,759,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FLS. True Wealth Design LLC acquired a new position in shares of Flowserve during the third quarter worth approximately $25,000. Signaturefd LLC raised its stake in Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Flowserve in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve in the 3rd quarter worth $29,000. Finally, nVerses Capital LLC acquired a new position in shares of Flowserve during the second quarter valued at about $34,000. 93.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FLS. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target for the company. Bank of America lifted their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup increased their target price on Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus boosted their price target on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.40.

Flowserve Price Performance

Shares of FLS opened at $61.25 on Tuesday. The stock has a market cap of $8.05 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41. Flowserve Co. has a 1 year low of $39.21 and a 1 year high of $62.32. The stock’s 50-day moving average price is $57.77 and its two-hundred day moving average price is $51.68. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.50 EPS. On average, equities 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 will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.37%. Flowserve’s dividend payout ratio is currently 41.58%.

Flowserve 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.