Flowserve Co. (NYSE:FLS) Stock Position Trimmed by Fox Run Management L.L.C.

Fox Run Management L.L.C. lowered its position in Flowserve Co. (NYSE:FLS) by 74.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,300 shares of the industrial products company’s stock after selling 12,449 shares during the quarter. Fox Run Management L.L.C.’s holdings in Flowserve were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in Flowserve by 1.0% during the 3rd 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 grew its position in Flowserve by 1.1% in 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 buying an additional 23,529 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Flowserve by 197.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after buying an additional 606,416 shares during the period. FMR LLC raised its position in shares of Flowserve by 15.6% during the 3rd quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock worth $46,170,000 after buying an additional 120,396 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Flowserve by 28.5% in the 4th quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company’s stock worth $42,876,000 after acquiring an additional 165,449 shares during the period. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.8 %

NYSE FLS opened at $50.43 on Friday. The firm’s 50 day moving average price is $56.83 and its two-hundred day moving average price is $56.38. 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 twelve month low of $43.66 and a twelve month high of $65.08. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS) last issued 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 net margin of 6.20% and a return on equity of 17.08%. Equities analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLS shares. Stifel Nicolaus upped their target price on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Royal Bank of Canada cut their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Robert W. Baird upgraded shares of 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 analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.60.

About Flowserve

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.