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

Taika Capital LP reduced its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 48.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,284 shares of the industrial products company's stock after selling 60,849 shares during the quarter. Flowserve accounts for 2.8% of Taika Capital LP's portfolio, making the stock its 12th largest position. Taika Capital LP's holdings in Flowserve were worth $3,698,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. KPP Advisory Services LLC lifted its stake in shares of Flowserve by 3.2% in the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company's stock worth $364,000 after acquiring an additional 215 shares during the period. HighTower Advisors LLC raised its holdings in 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 purchasing an additional 215 shares in the last quarter. Arizona State Retirement System lifted its position in Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock worth $2,193,000 after purchasing an additional 225 shares during the period. Savant Capital LLC boosted its stake in Flowserve by 0.4% during the 4th 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 in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Flowserve by 4.1% during 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 period. Institutional investors own 93.93% of the company's stock.

Flowserve Trading Down 0.7 %

Flowserve stock opened at $48.44 on Monday. Flowserve Co. has a 52 week low of $43.00 and a 52 week high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a 50 day moving average price of $59.35 and a 200 day moving average price of $56.34.

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Flowserve (NYSE:FLS - Get Free Report) last issued its 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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Research analysts forecast that Flowserve Co. will post 3.18 EPS 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 paid 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 1.73%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FLS shares. TD Cowen upped their price objective on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Royal Bank of Canada cut their price target 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. Stifel Nicolaus lifted their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Mizuho increased their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Robert W. Baird lifted their price target on shares of Flowserve from $69.00 to $71.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Flowserve presently has a consensus rating of "Moderate Buy" and an average target price 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.

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