Flowserve Co. (NYSE:FLS) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC trimmed its stake in shares of Flowserve Co. (NYSE:FLS) by 58.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 599 shares of the industrial products company’s stock after selling 838 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Flowserve were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FLS. US Bancorp DE lifted its position in Flowserve by 9.6% during the 3rd quarter. US Bancorp DE now owns 5,433 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 475 shares during the period. Janney Montgomery Scott LLC lifted its position in Flowserve by 14.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 35,466 shares of the industrial products company’s stock worth $1,833,000 after acquiring an additional 4,351 shares during the period. Verdence Capital Advisors LLC lifted its position in Flowserve by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company’s stock worth $409,000 after acquiring an additional 342 shares during the period. Crossmark Global Holdings Inc. lifted its position in Flowserve by 3.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 318 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Flowserve by 29.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 129,531 shares of the industrial products company’s stock valued at $6,695,000 after buying an additional 29,392 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Performance

Shares of FLS stock opened at $46.48 on Tuesday. The stock has a fifty day moving average price of $59.35 and a 200 day moving average price of $56.34. The stock has a market cap of $6.12 billion, a PE ratio of 21.72, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 1 year low of $43.00 and a 1 year high of $65.08. 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 (NYSE:FLS) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm 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%. Sell-side analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal 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 given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank of Canada reduced their price target on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Citigroup reduced their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Mizuho raised 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. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Robert W. Baird raised their price target on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.60.

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.