Thrivent Financial for Lutherans Decreases Stake in Flowserve Co. (NYSE:FLS)

Thrivent Financial for Lutherans reduced its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,143,941 shares of the industrial products company's stock after selling 459,587 shares during the quarter. Thrivent Financial for Lutherans owned about 1.63% of Flowserve worth $123,333,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Flowserve in the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve in the 3rd quarter worth approximately $29,000. UMB Bank n.a. grew its position in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after buying an additional 278 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Flowserve in the 3rd quarter worth approximately $42,000. Finally, Brooklyn Investment Group bought a new stake in shares of Flowserve in the 3rd quarter worth approximately $42,000. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Down 1.5 %

Flowserve stock traded down $0.78 during mid-day trading on Friday, hitting $50.65. The company had a trading volume of 2,206,895 shares, compared to its average volume of 1,159,925. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The stock's 50 day moving average price is $57.54 and its two-hundred day moving average price is $56.25. Flowserve Co. has a 12 month low of $43.66 and a 12 month high of $65.08. The company has a market capitalization of $6.67 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43.

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Flowserve (NYSE:FLS - Get Free Report) last released 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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. As a group, sell-side analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, March 28th. Flowserve's dividend payout ratio is currently 39.25%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Mizuho lifted their price objective on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Stifel Nicolaus lifted their price target on Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and lifted their price target for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. TD Cowen lifted their price target on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Robert W. Baird upgraded Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price target on the stock in a research report on Monday, March 17th. 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. According to data from MarketBeat, Flowserve currently has an average rating of "Moderate Buy" and a consensus target price of $68.60.

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.