Mutual of America Capital Management LLC Sells 1,605 Shares of Flowserve Co. (NYSE:FLS)

Mutual of America Capital Management LLC trimmed its position in Flowserve Co. (NYSE:FLS) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,398 shares of the industrial products company’s stock after selling 1,605 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Flowserve worth $3,992,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. KPP Advisory Services LLC increased its stake in Flowserve by 3.2% during the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 215 shares during the last quarter. HighTower Advisors LLC increased its stake in Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after acquiring an additional 215 shares during the last quarter. Savant Capital LLC increased its stake in Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after acquiring an additional 251 shares during the last quarter. National Bank of Canada FI increased its stake in Flowserve by 4.1% during the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 252 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Flowserve by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after acquiring an additional 277 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FLS has been the topic of several analyst reports. Citigroup reduced their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Royal Bank of Canada dropped their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Robert W. Baird boosted their target price on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Up 0.7 %

Shares of NYSE FLS opened at $50.81 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.35 and a beta of 1.42. The stock has a 50 day moving average price of $59.89 and a 200 day moving average price of $56.31. Flowserve Co. has a 52-week low of $42.37 and a 52-week high of $65.08.

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

Flowserve Dividend Announcement

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 paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is 39.25%.

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.