Asset Management One Co. Ltd. Sells 24,267 Shares of Flowserve Co. (NYSE:FLS)

Asset Management One Co. Ltd. trimmed its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 83.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,826 shares of the industrial products company's stock after selling 24,267 shares during the period. Asset Management One Co. Ltd.'s holdings in Flowserve were worth $249,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in shares of Flowserve by 14.0% in the third quarter. Janney Montgomery Scott LLC now owns 35,466 shares of the industrial products company's stock valued at $1,833,000 after buying an additional 4,351 shares during the period. Jacobson & Schmitt Advisors LLC lifted its stake in shares of Flowserve by 4.1% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 235,915 shares of the industrial products company's stock valued at $12,194,000 after buying an additional 9,251 shares during the period. US Bancorp DE lifted its stake in shares of Flowserve by 9.6% in the third quarter. US Bancorp DE now owns 5,433 shares of the industrial products company's stock valued at $281,000 after buying an additional 475 shares during the period. Roubaix Capital LLC bought a new stake in shares of Flowserve in the third quarter valued at about $4,859,000. Finally, New York State Teachers Retirement System lifted its stake in shares of Flowserve by 12.8% in the third quarter. New York State Teachers Retirement System now owns 149,371 shares of the industrial products company's stock valued at $7,721,000 after buying an additional 16,926 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FLS. The Goldman Sachs Group increased their target price on shares of Flowserve from $46.00 to $52.00 and gave the company a "sell" rating in a research note on Thursday, October 10th. Robert W. Baird raised their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Flowserve from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 8th. Finally, Mizuho raised their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.10.

Flowserve Trading Up 2.1 %

FLS traded up $1.27 during trading on Monday, reaching $61.15. 1,790,826 shares of the company's stock were exchanged, compared to its average volume of 1,103,442. The company's fifty day moving average price is $51.94 and its 200-day moving average price is $49.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve Co. has a fifty-two week low of $37.24 and a fifty-two week high of $61.60. The firm has a market capitalization of $8.03 billion, a PE ratio of 30.27, a P/E/G ratio of 1.44 and a beta of 1.38.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $0.50 EPS. Flowserve's revenue was up 3.5% on a year-over-year basis. As a group, equities analysts forecast that Flowserve Co. will post 2.72 EPS for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.37%. Flowserve's dividend payout ratio is 41.58%.

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.