Voya Investment Management LLC Trims Position in Flowserve Co. (NYSE:FLS)

Voya Investment Management LLC decreased its holdings in shares of Flowserve Co. (NYSE:FLS) by 27.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 424,905 shares of the industrial products company’s stock after selling 159,288 shares during the quarter. Voya Investment Management LLC owned about 0.32% of Flowserve worth $24,441,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brasada Capital Management LP purchased a new stake in Flowserve in the 4th quarter valued at about $949,000. Engine NO. 1 LLC acquired a new stake in shares of Flowserve in the fourth quarter worth approximately $7,363,000. Price T Rowe Associates Inc. MD grew its holdings in Flowserve by 7.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 90,714 shares of the industrial products company’s stock valued at $5,219,000 after purchasing an additional 6,241 shares during the period. Pinebridge Investments L.P. increased its position in Flowserve by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 47,537 shares of the industrial products company’s stock worth $2,734,000 after purchasing an additional 14,227 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Flowserve during the fourth quarter worth approximately $1,409,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Trading Up 0.6 %

FLS opened at $44.89 on Friday. The firm’s 50 day moving average is $47.86 and its 200-day moving average is $55.34. Flowserve Co. has a 52-week low of $37.34 and a 52-week high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $5.91 billion, a P/E ratio of 20.98, a P/E/G ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS) last released its quarterly earnings results 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 analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Analyst Ratings Changes

Several analysts have recently issued reports on FLS shares. Stifel Nicolaus lowered their price objective on shares of Flowserve from $77.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. TD Cowen raised their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada decreased their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Mizuho increased their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. 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. Based on data from MarketBeat.com, Flowserve 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.