Nisa Investment Advisors LLC boosted its position in shares of Flowserve Corp (NYSE:FLS) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 75,845 shares of the industrial products company’s stock after acquiring an additional 2,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Flowserve were worth $3,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in Flowserve during the 3rd quarter worth approximately $117,000. Federated Investors Inc. PA raised its stake in Flowserve by 1.8% during the 2nd quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 46 shares during the period. Evercore Wealth Management LLC raised its stake in Flowserve by 41.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 756 shares during the period. Sciencast Management LP bought a new stake in Flowserve during the 2nd quarter worth approximately $201,000. Finally, Commerce Bank bought a new stake in Flowserve during the 3rd quarter worth approximately $217,000.

Flowserve Corp (NYSE:FLS) opened at $44.33 on Friday. Flowserve Corp has a fifty-two week low of $37.51 and a fifty-two week high of $52.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30. The firm has a market cap of $5,666.95, a price-to-earnings ratio of 34.36, a P/E/G ratio of 2.61 and a beta of 1.53.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The firm had revenue of $883.38 million during the quarter, compared to analyst estimates of $871.20 million. During the same period last year, the firm posted $0.52 earnings per share. Flowserve’s revenue for the quarter was down 6.6% compared to the same quarter last year. research analysts predict that Flowserve Corp will post 1.37 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, January 5th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, January 4th. Flowserve’s dividend payout ratio (DPR) is presently 58.92%.

A number of equities research analysts have commented on the stock. Stifel Nicolaus restated a “hold” rating and set a $47.00 target price (up previously from $43.00) on shares of Flowserve in a research note on Tuesday. Royal Bank of Canada reiterated a “sell” rating and set a $39.00 price objective on shares of Flowserve in a research report on Thursday, January 4th. Zacks Investment Research cut shares of Flowserve from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Robert W. Baird reiterated a “hold” rating and set a $45.00 price objective on shares of Flowserve in a research report on Friday, December 15th. Finally, Goldman Sachs Group cut shares of Flowserve from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $42.65 to $37.00 in a research report on Thursday, December 7th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.92.

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About Flowserve

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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