KLP Kapitalforvaltning AS Invests $1.55 Million in Flowserve Co. (NYSE:FLS)

KLP Kapitalforvaltning AS bought a new stake in Flowserve Co. (NYSE:FLS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,800 shares of the industrial products company’s stock, valued at approximately $1,546,000.

Several other large investors also recently bought and sold shares of FLS. True Wealth Design LLC purchased a new position in shares of Flowserve in the 3rd quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve during the 3rd quarter valued at about $29,000. UMB Bank n.a. lifted its holdings in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 278 shares during the last quarter. Brooklyn Investment Group purchased a new position in Flowserve in the third quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC raised its position in Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 595 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. TD Cowen boosted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Royal Bank of Canada reduced their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Stifel Nicolaus raised their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Trading Down 3.4 %

Shares of NYSE FLS opened at $48.72 on Friday. Flowserve Co. has a twelve month low of $43.66 and a twelve month high of $65.08. The firm has a market cap of $6.42 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The business has a fifty day simple moving average of $56.54 and a two-hundred day simple moving average of $56.40. 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 released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 yield of 1.72%. 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.