CANADA LIFE ASSURANCE Co lessened its position in Flowserve Co. (NYSE:FLS - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,370 shares of the industrial products company's stock after selling 7,789 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.07% of Flowserve worth $5,256,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. FIL Ltd lifted its position in Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after buying an additional 2,193,904 shares in the last quarter. Norges Bank acquired a new position in Flowserve during the fourth quarter worth $94,629,000. Invesco Ltd. grew its position in shares of Flowserve by 52.7% in the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock valued at $118,953,000 after acquiring an additional 714,063 shares during the period. Varenne Capital Partners bought a new stake in shares of Flowserve in the 4th quarter valued at about $26,216,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Flowserve in the 4th quarter valued at about $23,614,000. Institutional investors own 93.93% of the company's stock.
Flowserve Stock Down 0.4 %
Shares of NYSE FLS traded down $0.19 during trading on Tuesday, hitting $44.47. The stock had a trading volume of 584,765 shares, compared to its average volume of 1,271,749. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The company has a market capitalization of $5.85 billion, a PE ratio of 20.80, a PEG ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08. The firm has a fifty day moving average of $47.58 and a two-hundred day moving average of $55.28.
Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, equities research analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.
Flowserve Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Citigroup lowered 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, April 14th. StockNews.com lowered shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Mizuho lifted their price target 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. Royal Bank of Canada reduced their price objective on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Finally, TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. 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. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.30.
Read Our Latest Stock Report on FLS
About Flowserve
(
Free Report)
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.
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