Amundi Sells 650,743 Shares of Flowserve Co. (NYSE:FLS)

Amundi reduced its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 83.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,357 shares of the industrial products company's stock after selling 650,743 shares during the quarter. Amundi owned approximately 0.10% of Flowserve worth $7,456,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC acquired a new position in Flowserve in the third quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve during the 3rd quarter worth about $29,000. UMB Bank n.a. grew its holdings in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after acquiring an additional 278 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Flowserve in the 3rd quarter valued at about $42,000. Finally, Brooklyn Investment Group bought a new position in shares of Flowserve in the third quarter worth about $42,000. 93.93% of the stock is currently owned by institutional investors.

Flowserve Trading Up 2.8 %

Shares of FLS stock traded up $1.42 on Wednesday, reaching $51.36. The company had a trading volume of 1,052,194 shares, compared to its average volume of 1,510,390. The company has a 50-day moving average of $58.00 and a 200-day moving average of $56.31. Flowserve Co. has a 12 month low of $43.66 and a 12 month high of $65.08. The stock has a market cap of $6.77 billion, a PE ratio of 24.00, a PEG ratio of 1.35 and a beta of 1.43. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

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Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. On average, equities analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.64%. Flowserve's dividend payout ratio is presently 39.25%.

Analysts Set New Price Targets

Several analysts have recently commented on FLS shares. Royal Bank of Canada decreased their price target 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. Mizuho boosted their target price on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. TD Cowen upped their price target on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. StockNews.com lowered Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday. Two 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. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of "Moderate Buy" and an average price target of $68.60.

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.