Flowserve Co. (NYSE:FLS) Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. decreased its stake in shares of Flowserve Co. (NYSE:FLS) by 74.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,300 shares of the industrial products company’s stock after selling 12,449 shares during the period. Fox Run Management L.L.C.’s holdings in Flowserve were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. KLP Kapitalforvaltning AS purchased a new stake in Flowserve during the 4th quarter worth about $1,546,000. Marietta Investment Partners LLC acquired a new stake in shares of Flowserve during the 4th quarter worth about $2,704,000. American Century Companies Inc. grew its holdings in shares of Flowserve by 25.9% during the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock worth $6,384,000 after buying an additional 22,850 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Flowserve by 3.8% in the fourth quarter. Teacher Retirement System of Texas now owns 307,170 shares of the industrial products company’s stock valued at $17,668,000 after buying an additional 11,188 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of Flowserve by 6.9% during the fourth quarter. Xponance Inc. now owns 15,140 shares of the industrial products company’s stock valued at $871,000 after buying an additional 972 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho lifted their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. StockNews.com downgraded Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. TD Cowen raised their price target on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup dropped their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus boosted their target price on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Stock Down 1.8 %

Shares of Flowserve stock opened at $50.43 on Friday. 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 price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average price of $56.83 and a 200 day moving average price of $56.38.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $1.18 billion during 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 forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced 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 of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.67%. Flowserve’s payout ratio is currently 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.