Earnest Partners LLC Sells 19,753 Shares of Flowserve Co. (NYSE:FLS)

Earnest Partners LLC decreased its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,568,010 shares of the industrial products company's stock after selling 19,753 shares during the period. Earnest Partners LLC owned approximately 1.95% of Flowserve worth $147,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Flowserve by 0.6% during the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock valued at $2,193,000 after purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in Flowserve by 0.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock valued at $1,527,000 after acquiring an additional 236 shares during the last quarter. Savant Capital LLC grew its stake in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company's stock worth $3,541,000 after purchasing an additional 251 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Flowserve by 34.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after purchasing an additional 275 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Flowserve by 64.2% during 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. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Up 3.3 %

FLS traded up $1.55 during trading on Friday, reaching $47.71. 644,196 shares of the stock traded hands, compared to its average volume of 1,279,829. The stock's 50-day simple moving average is $46.94 and its two-hundred day simple moving average is $55.08. 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 Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

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

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued 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 currently 39.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FLS shares. Mizuho lifted their target price on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Robert W. Baird reduced their price objective on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday. TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. StockNews.com upgraded shares of Flowserve from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Citigroup decreased their price objective on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $64.11.

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.