Flowserve Co. (NYSE:FLS) Stock Holdings Lowered by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Flowserve Co. (NYSE:FLS) by 25.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,608,085 shares of the industrial products company’s stock after selling 1,593,324 shares during the period. Wellington Management Group LLP owned about 3.50% of Flowserve worth $265,057,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FLS. State Street Corp boosted its stake in shares of Flowserve by 1.0% during the 3rd 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 in the last quarter. Vestcor Inc purchased a new stake in shares of Flowserve during the third quarter valued at $714,000. Stifel Financial Corp boosted its position in shares of Flowserve by 14.0% in the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after purchasing an additional 29,979 shares during the period. New York Life Investment Management LLC purchased a new position in Flowserve in the 4th quarter worth about $800,000. Finally, GAMMA Investing LLC raised its holdings in Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock worth $104,000 after buying an additional 290 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada lowered their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price for the company in a report on Monday, March 17th. Mizuho lifted their price target on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, TD Cowen upped 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. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Performance

Shares of FLS stock opened at $49.16 on Wednesday. The firm has a market cap of $6.48 billion, a P/E ratio of 22.97, a PEG ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve Co. has a fifty-two week low of $43.66 and a fifty-two week high of $65.08. The stock’s 50-day moving average is $55.93 and its two-hundred day moving average is $56.59.

Flowserve (NYSE:FLS) last posted its 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 during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Analysts predict that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is presently 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.