Los Angeles Capital Management LLC Reduces Stock Position in Flowserve Co. (NYSE:FLS)

Los Angeles Capital Management LLC reduced its position in Flowserve Co. (NYSE:FLS - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,733 shares of the industrial products company's stock after selling 6,798 shares during the period. Los Angeles Capital Management LLC owned about 0.09% of Flowserve worth $7,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock worth $201,685,000 after acquiring an additional 37,132 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Flowserve by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company's stock worth $134,577,000 after acquiring an additional 44,039 shares in the last quarter. Geode Capital Management LLC increased its holdings in Flowserve by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company's stock worth $113,851,000 after acquiring an additional 23,529 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Flowserve by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company's stock worth $90,761,000 after acquiring an additional 4,414 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after acquiring an additional 422,141 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FLS shares. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Robert W. Baird upped their target price on shares of Flowserve from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Royal Bank of Canada dropped their target price on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Mizuho upped their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Citigroup dropped their target price on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Flowserve has an average rating of "Moderate Buy" and a consensus target price of $68.60.

Flowserve Trading Up 1.2 %

NYSE FLS traded up $0.64 during trading hours on Friday, reaching $55.03. The company had a trading volume of 1,326,236 shares, compared to its average volume of 1,337,870. The stock has a 50-day moving average of $60.16 and a 200 day moving average of $56.18. Flowserve Co. has a 1-year low of $41.78 and a 1-year 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 stock has a market capitalization of $7.23 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.42.

Flowserve (NYSE:FLS - Get Free Report) last posted its 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). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given 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 dividend yield of 1.53%. Flowserve's dividend payout ratio is presently 39.25%.

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.