Mutual of America Capital Management LLC Has $3.58 Million Stock Holdings in Flowserve Co. (NYSE:FLS)

Posted by Defense World Staff on Aug 6th, 2023

Mutual of America Capital Management LLC decreased its stake in shares of Flowserve Co. (NYSE:FLS – Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 105,150 shares of the industrial products company’s stock after selling 2,207 shares during the period. Mutual of America Capital Management LLC owned 0.08% of Flowserve worth $3,575,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Flowserve by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,796,396 shares of the industrial products company’s stock worth $310,952,000 after buying an additional 160,054 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Flowserve by 2.6% during the 4th quarter. First Eagle Investment Management LLC now owns 11,008,936 shares of the industrial products company’s stock worth $337,754,000 after buying an additional 279,330 shares during the period. BlackRock Inc. boosted its holdings in shares of Flowserve by 0.8% during the 1st quarter. BlackRock Inc. now owns 10,793,498 shares of the industrial products company’s stock worth $387,485,000 after buying an additional 88,950 shares during the period. Wellington Management Group LLP bought a new stake in shares of Flowserve during the 1st quarter worth about $163,840,000. Finally, State Street Corp boosted its holdings in shares of Flowserve by 5.0% during the 1st quarter. State Street Corp now owns 3,554,081 shares of the industrial products company’s stock worth $128,290,000 after buying an additional 168,438 shares during the period. Institutional investors own 97.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FLS. The Goldman Sachs Group lifted their target price on shares of Flowserve from $34.00 to $38.00 and gave the stock a “sell” rating in a report on Thursday. Mizuho boosted their price objective on shares of Flowserve from $37.00 to $40.00 in a report on Wednesday, May 3rd. Royal Bank of Canada boosted their price objective on shares of Flowserve from $40.00 to $42.00 and gave the company a “sector perform” rating in a report on Thursday. Stifel Nicolaus boosted their price objective on shares of Flowserve from $42.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, StockNews.com raised shares of Flowserve from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.00.

Flowserve Stock Performance

Shares of Flowserve stock opened at $39.16 on Friday. The company has a 50 day moving average of $36.77 and a 200-day moving average of $34.88. Flowserve Co. has a 1-year low of $23.89 and a 1-year high of $40.15. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.65. The company has a market cap of $5.14 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 0.91 and a beta of 1.63.

Flowserve (NYSE:FLS – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $979.68 million. Flowserve had a net margin of 5.98% and a return on equity of 11.76%. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. As a group, equities research analysts forecast that Flowserve Co. will post 1.96 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Thursday, June 22nd. Flowserve’s dividend payout ratio is 44.44%.

About Flowserve

(Free Report)

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, the Middle East, Africa, Asia Pacific, and Europe. 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, 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.