Renaissance Technologies LLC Sells 6,000 Shares of Flowserve Co. (NYSE:FLS)

Renaissance Technologies LLC lessened its position in Flowserve Co. (NYSE:FLS - Free Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 627,200 shares of the industrial products company's stock after selling 6,000 shares during the quarter. Renaissance Technologies LLC owned about 0.48% of Flowserve worth $36,077,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC boosted its position in shares of Flowserve by 0.6% in the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company's stock valued at $1,962,000 after acquiring an additional 215 shares during the period. Quantinno Capital Management LP raised its stake in shares of Flowserve by 5.0% in the 3rd quarter. Quantinno Capital Management LP now owns 22,681 shares of the industrial products company's stock valued at $1,172,000 after buying an additional 1,080 shares in the last quarter. State Street Corp lifted its holdings in shares of 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 acquiring an additional 37,132 shares during the period. National Bank of Canada FI grew its stake in shares of Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 252 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Flowserve by 2.3% in the third quarter. Public Employees Retirement System of Ohio now owns 53,380 shares of the industrial products company's stock valued at $2,759,000 after acquiring an additional 1,191 shares during the period. 93.93% of the stock is currently owned by institutional investors.

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Flowserve Stock Down 1.5 %

Shares of NYSE:FLS traded down $0.65 during midday trading on Wednesday, hitting $42.16. The stock had a trading volume of 1,335,557 shares, compared to its average volume of 1,246,142. The business's 50-day simple moving average is $51.11 and its 200-day simple moving average is $55.93. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08. The company has a market cap of $5.55 billion, a P/E ratio of 19.70, a PEG 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 (NYSE:FLS - Get Free Report) last issued 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 business had revenue of $1.18 billion for 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%. On average, sell-side analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.99%. Flowserve's dividend payout ratio is presently 39.25%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FLS. TD Cowen lifted their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Citigroup decreased their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday. StockNews.com cut shares of 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, Royal Bank of Canada reduced their target price on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Flowserve has a consensus rating of "Moderate Buy" and an average price target of $64.30.

Flowserve Company 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.