Flowserve Co. (NYSE:FLS) Shares Sold by AXQ Capital LP

AXQ Capital LP lowered its position in Flowserve Co. (NYSE:FLS - Free Report) by 49.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and 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 reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLS. HighTower Advisors LLC increased its holdings in shares of Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock worth $1,962,000 after buying an additional 215 shares during the last quarter. Arizona State Retirement System increased its stake in Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock worth $2,193,000 after acquiring an additional 225 shares during the last quarter. Savant Capital LLC raised its position in Flowserve by 0.4% in the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock valued at $3,541,000 after purchasing an additional 251 shares during the period. National Bank of Canada FI lifted its stake in shares of Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 252 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Flowserve by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company's stock worth $1,330,000 after purchasing an additional 277 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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Flowserve Stock Down 2.2 %

Shares of FLS stock traded down $1.15 on Wednesday, reaching $51.29. 1,138,285 shares of the stock were exchanged, compared to its average volume of 1,164,451. Flowserve Co. has a twelve month low of $43.66 and a twelve month high of $65.08. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.35 and a beta of 1.43. The business's 50 day moving average price is $57.08 and its 200 day moving average price is $56.43.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data 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 business 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%. As a group, sell-side analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, March 28th. Flowserve's dividend payout ratio (DPR) is 39.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FLS shares. Stifel Nicolaus boosted their price target on shares of Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and raised their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Citigroup lowered their price objective on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada cut 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. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.60.

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.