Zacks Investment Management Sells 82,151 Shares of Flowserve Co. (NYSE:FLS)

Zacks Investment Management lessened its stake in Flowserve Co. (NYSE:FLS) by 74.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,724 shares of the industrial products company’s stock after selling 82,151 shares during the period. Zacks Investment Management’s holdings in Flowserve were worth $1,652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. Arizona State Retirement System raised its stake in shares of Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after acquiring an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its position in Flowserve by 0.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock valued at $1,527,000 after purchasing an additional 236 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after buying an additional 251 shares during the period. Quadrant Capital Group LLC grew its position in shares of Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock worth $62,000 after buying an additional 275 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after buying an additional 278 shares during the period. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.2 %

Shares of NYSE:FLS opened at $41.68 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The firm has a market capitalization of $5.49 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.35 and a beta of 1.22. The business’s 50-day moving average is $50.26 and its 200 day moving average is $55.76. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08.

Flowserve (NYSE:FLS) last posted 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 company had revenue of $1.18 billion for 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%. On average, research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.02%. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FLS. TD Cowen upped their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Stifel Nicolaus cut their price objective on shares of Flowserve from $77.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Citigroup reduced their price objective on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.30.

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.