Victory Capital Management Inc. Lowers Stock Holdings in Flowserve Co. (NYSE:FLS)

Victory Capital Management Inc. cut its stake in Flowserve Co. (NYSE:FLS - Free Report) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,311 shares of the industrial products company's stock after selling 50,553 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of Flowserve worth $7,726,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in Flowserve in the third quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Flowserve in the third quarter valued at approximately $29,000. UMB Bank n.a. lifted its holdings in Flowserve by 64.2% in 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. Finally, Brooklyn Investment Group acquired a new position in shares of Flowserve during the 3rd quarter worth approximately $42,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FLS. The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and upped their target price for the stock 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 for the company in a research note on Monday. Citigroup reduced their price objective on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, January 13th. TD Cowen increased their price objective on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flowserve presently has an average rating of "Moderate Buy" and an average price target of $68.60.

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Flowserve Trading Down 0.9 %

Shares of NYSE FLS traded down $0.46 during mid-day trading on Tuesday, reaching $49.90. 1,328,458 shares of the company's stock were exchanged, compared to its average volume of 1,152,563. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.35 and a beta of 1.43. 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 52-week low of $43.66 and a 52-week high of $65.08. The company's 50-day moving average is $58.19 and its 200-day moving average is $56.31.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share 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 analysts' expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. 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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve's dividend payout ratio is presently 39.25%.

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.