Alliancebernstein L.P. Sells 14,731 Shares of Flowserve Co. (NYSE:FLS)

Alliancebernstein L.P. trimmed its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 190,937 shares of the industrial products company's stock after selling 14,731 shares during the quarter. Alliancebernstein L.P. owned approximately 0.15% of Flowserve worth $10,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve in the third quarter worth about $29,000. UMB Bank n.a. grew its stake 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 worth $41,000 after buying an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after buying an additional 595 shares in the last quarter. Quintet Private Bank Europe S.A. purchased a new position in Flowserve during the fourth quarter valued at $63,000. Finally, GAMMA Investing LLC boosted its holdings in Flowserve by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock worth $104,000 after acquiring an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FLS shares. Stifel Nicolaus lowered their price target on Flowserve from $77.00 to $50.00 and set a "buy" rating for the company in a research report on Monday. Mizuho lifted their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Royal Bank of Canada dropped their target price on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. TD Cowen boosted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Finally, Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.30.

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Flowserve Stock Performance

Shares of NYSE FLS traded up $0.96 during midday trading on Tuesday, hitting $43.46. 302,766 shares of the stock traded hands, compared to its average volume of 1,239,426. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08. The firm has a market capitalization of $5.73 billion, a P/E ratio of 20.29, a PEG ratio of 1.35 and a beta of 1.22. The firm has a 50-day moving average of $51.52 and a two-hundred day moving average of $56.02.

Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results 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). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, equities analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Flowserve's dividend payout ratio is currently 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.