Flowserve Co. (NYSE:FLS) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its holdings in Flowserve Co. (NYSE:FLS) by 5.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 122,733 shares of the industrial products company’s stock after selling 6,798 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.09% of Flowserve worth $7,060,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FLS. Creative Planning lifted its holdings in Flowserve by 6.9% in the third quarter. Creative Planning now owns 6,879 shares of the industrial products company’s stock worth $356,000 after acquiring an additional 444 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Flowserve by 51.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,816 shares of the industrial products company’s stock worth $559,000 after purchasing an additional 3,675 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Flowserve by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 15,208 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 1,035 shares during the period. Finally, Pallas Capital Advisors LLC grew its stake in Flowserve by 23.3% during the 3rd quarter. Pallas Capital Advisors LLC now owns 18,297 shares of the industrial products company’s stock worth $961,000 after buying an additional 3,457 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Robert W. Baird lifted their price objective on shares of Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Bank of America raised their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Mizuho boosted their price objective on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Price Performance

Shares of NYSE:FLS opened at $55.15 on Thursday. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.35 and a beta of 1.42. 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 12 month low of $41.78 and a 12 month high of $65.08. The stock’s 50 day moving average price is $60.29 and its 200 day moving average price is $56.06.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.52%. Flowserve’s dividend payout ratio (DPR) is 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.