AXQ Capital LP Sells 17,557 Shares of Flowserve Co. (NYSE:FLS)

AXQ Capital LP lessened its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 49.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,611 shares of the industrial products company's stock after selling 17,557 shares during the quarter. AXQ Capital LP's holdings in Flowserve were worth $1,013,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in Flowserve during the third quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve in the third quarter worth $29,000. UMB Bank n.a. grew its position in 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 purchasing an additional 278 shares during the last quarter. Canton Hathaway LLC bought a new position in Flowserve in the 3rd quarter worth approximately $42,000. Finally, Brooklyn Investment Group acquired a new position in Flowserve during the 3rd quarter valued at about $42,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Up 0.4 %

FLS stock traded up $0.24 during trading hours on Tuesday, hitting $52.69. The company's stock had a trading volume of 298,301 shares, compared to its average volume of 1,161,161. The stock has a 50 day moving average price of $57.41 and a two-hundred day moving average price of $56.41. Flowserve Co. has a 12 month low of $43.66 and a 12 month high of $65.08. The company has a market capitalization of $6.94 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 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 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 research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Friday, March 28th. Flowserve's payout ratio is presently 39.25%.

Wall Street Analysts Forecast Growth

FLS has been the subject of several research reports. Citigroup reduced their price objective on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target on the stock in a research note on Monday, March 17th. StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, TD Cowen upped their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Flowserve presently has a consensus rating of "Moderate Buy" and an average price target of $68.60.

About Flowserve

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.