Vestcor Inc Sells 9,716 Shares of Flowserve Co. (NYSE:FLS)

Vestcor Inc lessened its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 70.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,102 shares of the industrial products company's stock after selling 9,716 shares during the period. Vestcor Inc's holdings in Flowserve were worth $236,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in shares of Flowserve during the third quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the third quarter valued at $29,000. UMB Bank n.a. lifted its stake in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 278 shares during the period. Canton Hathaway LLC acquired a new position in shares of Flowserve during the third quarter valued at $42,000. Finally, Brooklyn Investment Group acquired a new position in shares of Flowserve during the third quarter valued at $42,000. Institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLS. Mizuho upped their price target on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Royal Bank of Canada cut their price target on Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and upped their price target for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 target price on the stock in a research note on Monday, March 17th. Finally, StockNews.com lowered Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and a consensus target price of $68.60.

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Flowserve Stock Down 1.5 %

Shares of NYSE FLS traded down $0.78 during mid-day trading on Friday, reaching $50.65. 2,206,895 shares of the company's stock were exchanged, compared to its average volume of 1,159,925. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.35 and a beta of 1.43. 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 business has a fifty day simple moving average of $57.54 and a 200 day simple moving average of $56.25. Flowserve Co. has a twelve month low of $43.66 and a twelve month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, equities analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's dividend payout ratio is currently 39.25%.

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.