Mutual of America Capital Management LLC Sells 4,213 Shares of Flowserve Co. (NYSE:FLS)

Mutual of America Capital Management LLC lowered its position in Flowserve Co. (NYSE:FLS) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 81,083 shares of the industrial products company’s stock after selling 4,213 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Flowserve worth $3,342,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Impax Asset Management Group plc boosted its holdings in Flowserve by 63.1% in the 4th quarter. Impax Asset Management Group plc now owns 17,831 shares of the industrial products company’s stock worth $735,000 after buying an additional 6,900 shares during the period. Peregrine Capital Management LLC bought a new position in shares of Flowserve during the 4th quarter valued at about $6,031,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Flowserve by 73.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,114 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 2,584 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Flowserve during the 4th quarter valued at about $3,695,000. Finally, Wakefield Asset Management LLLP bought a new position in shares of Flowserve during the 4th quarter valued at about $866,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Down 1.5 %

Shares of NYSE FLS opened at $45.67 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. Flowserve Co. has a 12-month low of $32.05 and a 12-month high of $48.31. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 1.32 and a beta of 1.46. The firm’s 50-day moving average price is $44.35 and its 200-day moving average price is $40.90.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities research analysts anticipate that Flowserve Co. will post 2.55 EPS for the current fiscal year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a $0.21 dividend. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, March 27th. Flowserve’s dividend payout ratio is 59.57%.

Analysts Set New Price Targets

FLS has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Flowserve from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 22nd. Citigroup increased their price objective on shares of Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada increased their price objective on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. Finally, Robert W. Baird upped their target price on shares of Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.25.

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.