Flowserve Co. (NYSE:FLS) Shares Sold by Amundi

Amundi lessened its stake in Flowserve Co. (NYSE:FLS) by 83.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,357 shares of the industrial products company’s stock after selling 650,743 shares during the quarter. Amundi owned approximately 0.10% of Flowserve worth $7,456,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its holdings in Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after buying an additional 37,132 shares during the last quarter. Vestcor Inc bought a new position in Flowserve during the third quarter worth $714,000. Stifel Financial Corp boosted its holdings in Flowserve by 14.0% in the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock worth $12,619,000 after purchasing an additional 29,979 shares during the period. Algert Global LLC increased its stake in Flowserve by 130.3% during the third quarter. Algert Global LLC now owns 109,079 shares of the industrial products company’s stock valued at $5,638,000 after purchasing an additional 61,710 shares during the last quarter. Finally, New York Life Investment Management LLC bought a new stake in Flowserve during the fourth quarter valued at $800,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 2.9 %

Shares of NYSE:FLS opened at $49.00 on Friday. Flowserve Co. has a twelve month low of $43.66 and a twelve month high of $65.08. 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 firm has a market cap of $6.45 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a 50 day moving average of $58.36 and a 200-day moving average of $56.25.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. As a group, analysts anticipate 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 will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is currently 39.25%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FLS. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and raised their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Mizuho raised their target price on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Royal Bank of Canada lowered their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Robert W. Baird upped their target price on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

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.