Legal & General Group Plc Sells 14,166 Shares of Flowserve Co. (NYSE:FLS)

Legal & General Group Plc cut its position in Flowserve Co. (NYSE:FLS) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 238,752 shares of the industrial products company’s stock after selling 14,166 shares during the quarter. Legal & General Group Plc owned approximately 0.18% of Flowserve worth $13,733,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Headlands Technologies LLC grew its holdings in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve in the 3rd quarter worth $29,000. UMB Bank n.a. grew its stake in 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 buying an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 595 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 275 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Trading Up 0.7 %

Shares of Flowserve stock opened at $42.82 on Wednesday. The firm’s 50-day moving average price is $51.11 and its 200 day moving average price is $55.93. Flowserve Co. has a twelve month low of $37.34 and a twelve month high of $65.08. The firm has a market capitalization of $5.64 billion, a PE ratio of 20.01, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts predict that Flowserve Co. will post 3.18 EPS 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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Analyst Ratings Changes

FLS has been the subject of several research analyst reports. Royal Bank of Canada reduced their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Citigroup cut their price target on Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday. Mizuho boosted their price objective on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Two research 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.