Allianz Asset Management GmbH Sells 48,876 Shares of Flowserve Corporation (NYSE:FLS)

Allianz Asset Management GmbH trimmed its position in Flowserve Corporation (NYSE:FLS - Free Report) by 80.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,510 shares of the industrial products company's stock after selling 48,876 shares during the period. Allianz Asset Management GmbH's holdings in Flowserve were worth $562,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FLS. Headlands Technologies LLC boosted its position in shares of Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after purchasing an additional 479 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Flowserve during the fourth quarter valued at $33,000. Colonial Trust Co SC boosted its holdings in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after acquiring an additional 478 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Flowserve by 80.1% in the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after acquiring an additional 394 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Flowserve by 71.5% during the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 429 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Stock Performance

Shares of NYSE FLS opened at $53.86 on Friday. The firm's 50-day moving average price is $51.34 and its 200-day moving average price is $51.74. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08. The company has a market cap of $7.04 billion, a PE ratio of 24.37, a PEG ratio of 1.17 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 2.10 and a debt-to-equity ratio of 0.63.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.13. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. As a group, analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, June 27th. Flowserve's dividend payout ratio (DPR) is 38.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Mizuho set a $60.00 price objective on shares of Flowserve in a research note on Friday, May 16th. The Goldman Sachs Group upped their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Robert W. Baird cut their price target on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Flowserve presently has an average rating of "Buy" and an average price target of $65.78.

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.

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