Cubist Systematic Strategies LLC Has $5.43 Million Stake in Flowserve Co. (NYSE:FLS)

Cubist Systematic Strategies LLC lessened its stake in Flowserve Co. (NYSE:FLS - Free Report) by 51.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,419 shares of the industrial products company's stock after selling 100,928 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.07% of Flowserve worth $5,431,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC increased 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 valued at $28,000 after purchasing an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Flowserve in the third quarter valued at about $29,000. UMB Bank n.a. increased its holdings in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Flowserve by 185.9% in the fourth 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, Quadrant Capital Group LLC increased its holdings in Flowserve by 34.6% in the fourth 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 during the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Stock Down 0.3%

Shares of NYSE:FLS traded down $0.16 during mid-day trading on Friday, reaching $47.75. 1,011,869 shares of the stock were exchanged, compared to its average volume of 1,281,262. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The company has a market cap of $6.24 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.35 and a beta of 1.21. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08. The stock's 50 day simple moving average is $46.18 and its 200-day simple moving average is $54.82.

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

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.76%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FLS shares. Robert W. Baird lowered their price target on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. TD Cowen increased their price target on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. StockNews.com upgraded Flowserve from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Mizuho increased their price target on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flowserve currently has an average rating of "Buy" and an average price target of $64.11.

Flowserve 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.