Legal & General Group Plc lessened its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,752 shares of the industrial products company's stock after selling 14,166 shares during the quarter. Legal & General Group Plc owned about 0.18% of Flowserve worth $13,733,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the business. New York Life Investment Management LLC acquired a new stake in shares of Flowserve during the fourth quarter worth about $800,000. American Century Companies Inc. boosted its stake in Flowserve by 25.9% during the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock worth $6,384,000 after purchasing an additional 22,850 shares during the period. GAMMA Investing LLC increased its stake in Flowserve by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 290 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Flowserve during the fourth quarter worth about $422,000. Finally, Cookson Peirce & Co. Inc. lifted its holdings in shares of Flowserve by 55.8% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 20,541 shares of the industrial products company's stock worth $1,182,000 after purchasing an additional 7,357 shares during the period. Hedge funds and other institutional investors own 93.93% of the company's stock.
Flowserve Stock Performance
FLS stock traded down $1.25 during mid-day trading on Monday, reaching $40.48. The company had a trading volume of 65,951 shares, compared to its average volume of 1,246,107. The stock's 50-day simple moving average is $49.83 and its two-hundred day simple moving average is $55.74. The stock has a market capitalization of $5.33 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08.
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 the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Research analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.
Flowserve Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. Flowserve's dividend payout ratio (DPR) is 39.25%.
Analysts Set New Price Targets
FLS has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on shares of Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. TD Cowen raised their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Mizuho lifted their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Two equities research 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $64.30.
View Our Latest Stock 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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