Flowserve Co. (NYSE:FLS) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its position in Flowserve Co. (NYSE:FLS - Free Report) by 70.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,735 shares of the industrial products company's stock after selling 25,760 shares during the period. Y Intercept Hong Kong Ltd's holdings in Flowserve were worth $617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in Flowserve by 1.0% during the third 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 last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Flowserve by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company's stock worth $134,577,000 after purchasing an additional 44,039 shares during the period. Geode Capital Management LLC increased its position in shares of 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 worth $113,851,000 after purchasing an additional 23,529 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Flowserve by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company's stock worth $90,761,000 after purchasing an additional 4,414 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock valued at $86,055,000 after buying an additional 422,141 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FLS. Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Robert W. Baird lifted their target price on shares of Flowserve from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. StockNews.com cut Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Royal Bank of Canada lowered their price target on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group raised Flowserve from a "sell" rating to a "neutral" rating and increased their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.60.

Flowserve Stock Up 0.7 %

Shares of FLS traded up $0.35 during midday trading on Wednesday, reaching $50.81. The stock had a trading volume of 2,331,182 shares, compared to its average volume of 1,127,386. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The company's fifty day simple moving average is $59.89 and its two-hundred day simple moving average is $56.31. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.35 and a beta of 1.42. Flowserve Co. has a 1-year low of $42.37 and a 1-year high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (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 analysts' expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Equities research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.65%. 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.