Balyasny Asset Management L.P. Sells 11,413 Shares of Flowserve Co. (NYSE:FLS)

Balyasny Asset Management L.P. lowered its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 541,618 shares of the industrial products company's stock after selling 11,413 shares during the quarter. Balyasny Asset Management L.P. owned about 0.41% of Flowserve worth $31,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Flowserve by 136.8% during the 4th quarter. BNP Paribas Financial Markets now owns 248,327 shares of the industrial products company's stock worth $14,284,000 after acquiring an additional 143,443 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Flowserve by 0.3% during the fourth quarter. Ameriprise Financial Inc. now owns 244,310 shares of the industrial products company's stock valued at $14,055,000 after purchasing an additional 621 shares during the last quarter. Algert Global LLC lifted its stake in shares of Flowserve by 66.2% in the fourth quarter. Algert Global LLC now owns 181,263 shares of the industrial products company's stock worth $10,426,000 after buying an additional 72,184 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Flowserve by 1.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 378,723 shares of the industrial products company's stock worth $21,784,000 after buying an additional 4,670 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new position in Flowserve in the 4th quarter worth $466,000. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup cut their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. StockNews.com raised shares of Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. TD Cowen increased their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Mizuho upped their price objective on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Robert W. Baird decreased their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $64.11.

Flowserve Price Performance

Shares of NYSE:FLS traded down $0.16 during trading on Friday, reaching $47.75. The stock had a trading volume of 1,011,869 shares, compared to its average volume of 1,279,470. The stock has a market capitalization of $6.24 billion, a PE ratio of 22.31, a P/E/G ratio of 1.35 and a beta of 1.21. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $65.08. The business's 50-day moving average price is $46.18 and its 200 day moving average price is $54.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the prior year, the business earned $0.58 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.76%. Flowserve's payout ratio is 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.