Flowserve Co. (NYSE:FLS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 56.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 259,586 shares of the industrial products company's stock after selling 337,248 shares during the period. Russell Investments Group Ltd. owned about 0.20% of Flowserve worth $14,931,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FLS. Vanguard Group Inc. boosted its stake in shares of Flowserve by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock valued at $775,209,000 after buying an additional 101,668 shares during the last quarter. State Street Corp raised its holdings in Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock valued at $201,685,000 after acquiring an additional 37,132 shares in the last quarter. Geode Capital Management LLC boosted its stake in Flowserve by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company's stock valued at $113,851,000 after acquiring an additional 23,529 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Flowserve by 10.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,832,204 shares of the industrial products company's stock worth $105,388,000 after acquiring an additional 167,379 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Flowserve in the 4th quarter worth about $94,629,000. Institutional investors and hedge funds own 93.93% of the company's stock.

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Flowserve Stock Performance

Shares of Flowserve stock traded down $0.35 during trading on Wednesday, hitting $42.46. 167,450 shares of the stock were exchanged, compared to its average volume of 1,546,875. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08. The stock's fifty day moving average is $51.11 and its 200 day moving average is $55.93. The stock has a market cap of $5.59 billion, a PE ratio of 19.84, a P/E/G ratio of 1.35 and a beta of 1.22.

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%. As a group, sell-side analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.98%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FLS shares. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Robert W. Baird upgraded Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 target price for the company in a research report on Monday, March 17th. Stifel Nicolaus dropped their price target on Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday. TD Cowen lifted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Finally, Citigroup dropped their target price on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday. Two investment 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, the company has an average rating of "Moderate Buy" and an average target price of $64.30.

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.