Prudential Financial Inc. Sells 111,593 Shares of Flowserve Co. (NYSE:FLS)

Prudential Financial Inc. lessened its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,550,869 shares of the industrial products company's stock after selling 111,593 shares during the quarter. Prudential Financial Inc. owned 1.18% of Flowserve worth $89,206,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company's stock valued at $1,330,000 after purchasing an additional 277 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Flowserve by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company's stock valued at $90,761,000 after purchasing an additional 4,414 shares during the last quarter. Cerity Partners LLC boosted its position in Flowserve by 71.7% in the third quarter. Cerity Partners LLC now owns 58,587 shares of the industrial products company's stock valued at $3,028,000 after buying an additional 24,460 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in Flowserve during the third quarter worth about $2,143,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Flowserve by 89.5% during the third quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the industrial products company's stock worth $186,000 after buying an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

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Flowserve Trading Down 3.4 %

Shares of NYSE FLS traded down $1.71 during mid-day trading on Friday, hitting $48.72. The company's stock had a trading volume of 1,161,029 shares, compared to its average volume of 1,220,751. Flowserve Co. has a one year low of $43.66 and a one year high of $65.08. The company's fifty day simple moving average is $56.54 and its 200-day simple moving average is $56.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, sell-side analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Friday, March 28th. Flowserve's dividend payout ratio (DPR) is currently 39.25%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FLS shares. Citigroup reduced their target price on Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, January 13th. StockNews.com lowered Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. TD Cowen raised their target price on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Stifel Nicolaus increased their price objective on shares of Flowserve from $75.00 to $77.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.