First Eagle Investment Management LLC Decreases Stake in Flowserve Co. (NYSE:FLS)

First Eagle Investment Management LLC decreased its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 28.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,738,858 shares of the industrial products company's stock after selling 3,026,108 shares during the quarter. First Eagle Investment Management LLC owned about 5.89% of Flowserve worth $445,139,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FLS. Point72 Asset Management L.P. raised its position in Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company's stock worth $47,207,000 after acquiring an additional 606,416 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock valued at $86,055,000 after buying an additional 422,141 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Flowserve in the fourth quarter valued at $14,546,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Flowserve by 66.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company's stock valued at $31,930,000 after buying an additional 220,805 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Flowserve by 28.5% in the fourth quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company's stock valued at $42,876,000 after buying an additional 165,449 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

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Flowserve Trading Down 0.9 %

FLS traded down $0.46 during midday trading on Tuesday, hitting $49.90. The company's stock had a trading volume of 1,328,458 shares, compared to its average volume of 1,152,563. 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 firm has a market cap of $6.57 billion, a P/E ratio of 23.32, a PEG ratio of 1.35 and a beta of 1.43. The firm has a 50-day moving average price of $58.19 and a two-hundred day moving average price of $56.31. Flowserve Co. has a 52-week low of $43.66 and a 52-week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate 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%. On average, research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, March 28th. Flowserve's dividend payout ratio (DPR) is 39.25%.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of research analyst reports. Mizuho raised their price target on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. TD Cowen raised their price target on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Citigroup dropped their price target on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective on the stock in a research note on Monday. Finally, Royal Bank of Canada cut their target price on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average 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.