Diversified Trust Co Reduces Holdings in Flowserve Co. (NYSE:FLS)

Diversified Trust Co lowered its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 24.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,714 shares of the industrial products company's stock after selling 14,623 shares during the period. Diversified Trust Co's holdings in Flowserve were worth $2,629,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KPP Advisory Services LLC lifted its holdings in Flowserve by 3.2% during the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company's stock worth $364,000 after buying an additional 215 shares during the period. HighTower Advisors LLC raised its position in shares of Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock worth $1,962,000 after acquiring an additional 215 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Flowserve by 4.1% in the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock worth $327,000 after acquiring an additional 252 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Flowserve by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company's stock valued at $1,330,000 after acquiring an additional 277 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Stock Down 0.8 %

FLS stock traded down $0.48 during mid-day trading on Wednesday, reaching $58.95. 1,080,897 shares of the company traded hands, compared to its average volume of 1,140,819. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm's 50 day moving average price is $59.15 and its 200 day moving average price is $52.85. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 29.18, a P/E/G ratio of 1.48 and a beta of 1.42. Flowserve Co. has a fifty-two week low of $39.31 and a fifty-two week high of $62.32.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $0.50 EPS. The company's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, December 27th. Flowserve's payout ratio is 41.58%.

Wall Street Analyst Weigh In

FLS has been the topic of a number of analyst reports. Mizuho upped their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Robert W. Baird upped their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Citigroup lifted their price objective on Flowserve from $65.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Stifel Nicolaus upped their target price on Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on Flowserve in a report on Friday, October 18th. They issued a "buy" rating and a $65.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.40.

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.