Gabelli Funds LLC trimmed its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,212,267 shares of the industrial products company's stock after selling 38,100 shares during the period. Gabelli Funds LLC owned approximately 0.92% of Flowserve worth $69,730,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Headlands Technologies LLC increased its stake in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after acquiring an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Flowserve during the 3rd quarter worth approximately $29,000. UMB Bank n.a. increased its position 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 purchasing an additional 278 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after buying an additional 595 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after buying an additional 275 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.
Flowserve Stock Down 1.2 %
NYSE FLS traded down $0.51 during trading hours on Friday, reaching $41.68. 1,672,596 shares of the company traded hands, compared to its average volume of 1,250,785. The stock has a market capitalization of $5.49 billion, a PE ratio of 19.48, a PEG ratio of 1.35 and a beta of 1.22. 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 12 month low of $37.34 and a 12 month high of $65.08. The company has a 50 day moving average of $49.83 and a two-hundred day moving average of $55.71.
Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly 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 return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, equities analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.
Flowserve Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Friday, March 28th. Flowserve's dividend payout ratio is currently 39.25%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their target price on shares of Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. TD Cowen raised their price objective on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Mizuho upped their price target on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Flowserve has an average rating of "Moderate Buy" and an average target price of $64.30.
Get Our Latest Analysis on Flowserve
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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