Tidal Investments LLC Lowers Stock Holdings in Flowserve Co. (NYSE:FLS)

Tidal Investments LLC lessened its stake in Flowserve Co. (NYSE:FLS - Free Report) by 57.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,830 shares of the industrial products company's stock after selling 21,367 shares during the period. Tidal Investments LLC's holdings in Flowserve were worth $818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in shares of Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company's stock worth $126,259,000 after purchasing an additional 1,596,429 shares in the last quarter. AQR Capital Management LLC raised its stake in Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company's stock valued at $132,221,000 after acquiring an additional 663,631 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Flowserve by 197.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company's stock valued at $47,207,000 after buying an additional 606,416 shares in the last quarter. Hood River Capital Management LLC purchased a new position in shares of Flowserve in the second quarter valued at $23,911,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Flowserve by 34.0% during the 3rd 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. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Price Performance

Shares of NYSE FLS traded down $0.09 during mid-day trading on Friday, hitting $58.06. 2,015,547 shares of the company's stock traded hands, compared to its average volume of 1,121,912. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. Flowserve Co. has a 1 year low of $39.21 and a 1 year high of $62.32. The company's 50-day moving average is $58.11 and its two-hundred day moving average is $51.90. The company has a market capitalization of $7.63 billion, a P/E ratio of 28.74, a PEG ratio of 1.48 and a beta of 1.41.

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

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, December 27th. Flowserve's payout ratio is currently 41.58%.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Robert W. Baird boosted their price target on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Mizuho increased their price objective on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Jefferies Financial Group initiated coverage on shares of Flowserve in a research report on Friday, October 18th. They set a "buy" rating and a $65.00 price target for the company. Finally, StockNews.com raised Flowserve from a "buy" rating to a "strong-buy" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.40.

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.