WINTON GROUP Ltd Trims Stake in Flowserve Co. (NYSE:FLS)

WINTON GROUP Ltd cut its holdings in shares of Flowserve Co. (NYSE:FLS) by 36.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,368 shares of the industrial products company’s stock after selling 3,028 shares during the quarter. WINTON GROUP Ltd’s holdings in Flowserve were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Flowserve during the third quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve during the 3rd quarter worth approximately $29,000. UMB Bank n.a. boosted its position in shares of Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 278 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 595 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. purchased a new stake in Flowserve in the fourth quarter valued at approximately $63,000. 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 recently weighed in on FLS shares. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Mizuho lifted their target price on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup cut their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Robert W. Baird raised shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target for the company in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Trading Down 3.4 %

NYSE:FLS opened at $48.72 on Monday. Flowserve Co. has a 1 year low of $43.66 and a 1 year high of $65.08. The stock has a market cap of $6.42 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a 50-day simple moving average of $56.54 and a 200-day simple moving average of $56.56.

Flowserve (NYSE:FLS) last announced 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 business had revenue of $1.18 billion during the quarter, compared to analyst estimates 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.72%. Flowserve’s dividend payout ratio is currently 39.25%.

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.