Flowserve Co. (NYSE:FLS) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. cut its stake in Flowserve Co. (NYSE:FLS - Free Report) by 71.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,503 shares of the industrial products company's stock after selling 18,904 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Flowserve were worth $432,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its stake 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 worth $2,193,000 after purchasing an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in shares of Flowserve by 0.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after purchasing an additional 236 shares in the last quarter. Savant Capital LLC increased its stake in shares of Flowserve by 0.4% during 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 in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Flowserve by 34.6% during 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, US Bancorp DE increased its stake in shares of Flowserve by 5.3% during the 4th quarter. US Bancorp DE now owns 5,722 shares of the industrial products company's stock worth $329,000 after purchasing an additional 289 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Trading Down 1.1%

Shares of FLS traded down $0.56 during mid-day trading on Friday, reaching $49.96. The company had a trading volume of 1,112,739 shares, compared to its average volume of 1,300,958. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The firm has a fifty day simple moving average of $46.46 and a 200-day simple moving average of $54.24. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 EPS. On average, sell-side analysts anticipate that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, June 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.68%. Flowserve's payout ratio is 39.25%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FLS shares. Mizuho set a $60.00 price objective on shares of Flowserve in a research note on Friday, May 16th. Citigroup lowered their target price 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. Robert W. Baird lowered their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Wall Street Zen raised shares of Flowserve from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus lifted their target price on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One equities research 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $63.00.

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.