Wellington Management Group LLP decreased its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 25.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,608,085 shares of the industrial products company's stock after selling 1,593,324 shares during the period. Wellington Management Group LLP owned 3.50% of Flowserve worth $265,057,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of FLS. State Street Corp grew its position in Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock worth $201,685,000 after purchasing an additional 37,132 shares during the last quarter. Vestcor Inc purchased a new stake in shares of Flowserve during the third quarter valued at $714,000. Stifel Financial Corp increased its position in shares of Flowserve by 14.0% in the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company's stock valued at $12,619,000 after acquiring an additional 29,979 shares during the period. New York Life Investment Management LLC purchased a new position in Flowserve in the 4th quarter worth $800,000. Finally, GAMMA Investing LLC lifted its position in Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock worth $104,000 after acquiring an additional 290 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Flowserve Price Performance
Shares of Flowserve stock traded down $3.53 during trading hours on Friday, reaching $40.07. The stock had a trading volume of 2,817,652 shares, compared to its average volume of 1,219,284. The stock's 50 day moving average is $54.75 and its 200 day moving average is $56.54. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve Co. has a twelve month low of $38.23 and a twelve month high of $65.08. The firm has a market capitalization of $5.28 billion, a PE ratio of 18.72, a PEG ratio of 1.35 and a beta of 1.22.
Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates 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. Equities analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.
Flowserve Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.10%. Flowserve's dividend payout ratio is currently 39.25%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on FLS. TD Cowen raised their price objective on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Mizuho increased their price objective on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Royal Bank of Canada reduced 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. Finally, Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.60.
Get Our Latest Analysis on FLS
About Flowserve
(
Free Report)
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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