Flowserve Corporation $FLS Stock Position Decreased by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has reduced its holdings in Flowserve Corporation (NYSE:FLS) by 6.3%, now owning approximately 2.10% of the company, valued at $130.98 million.
• Insider Kirk Wilson sold 10,000 shares of Flowserve for $532,200, resulting in a 21.19% decrease in his ownership of the stock.
• Flowserve reported a quarterly dividend of $0.21 per share, with an annualized yield of 1.6%, and is expected to post an EPS of 3.18 for the current fiscal year.

AQR Capital Management LLC lowered its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,742,486 shares of the industrial products company's stock after selling 182,973 shares during the period. AQR Capital Management LLC owned about 2.10% of Flowserve worth $130,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Flowserve by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,275 shares of the industrial products company's stock worth $14,763,000 after acquiring an additional 1,103 shares in the last quarter. KBC Group NV grew its stake in shares of Flowserve by 4.8% in the 1st quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock valued at $277,000 after purchasing an additional 258 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Flowserve by 26.6% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company's stock valued at $112,000 after buying an additional 481 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in shares of Flowserve in the first quarter valued at approximately $216,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Flowserve by 453.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company's stock valued at $8,402,000 after buying an additional 139,939 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Stock Up 0.7%

FLS traded up $0.37 on Monday, reaching $55.57. The company's stock had a trading volume of 1,548,376 shares, compared to its average volume of 2,023,216. The business's 50 day moving average is $53.80 and its 200 day moving average is $50.02. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $65.08. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50.

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

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, September 26th. Flowserve's dividend payout ratio is presently 38.01%.

Analysts Set New Price Targets

A number of analysts have commented on FLS shares. Wall Street Zen downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Friday. Citigroup upped their target price on Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada boosted their price target on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus boosted their price target on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group boosted their price target on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $65.78.

Insider Buying and Selling

In related news, insider Kirk Wilson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the sale, the insider directly owned 37,196 shares in the company, valued at $1,979,571.12. This trade represents a 21.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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.