Jefferies Financial Group Inc. Sells 27,370 Shares of Flowserve Co. (NYSE:FLS)

Jefferies Financial Group Inc. reduced its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 29.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,930 shares of the industrial products company's stock after selling 27,370 shares during the quarter. Jefferies Financial Group Inc. owned 0.05% of Flowserve worth $3,850,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC grew its holdings in shares of Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after buying an additional 479 shares during the last quarter. Colonial Trust Co SC boosted its holdings in Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after purchasing an additional 478 shares during the last quarter. True Wealth Design LLC boosted its holdings in Flowserve by 80.1% during the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after purchasing an additional 394 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after purchasing an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Flowserve by 34.6% during the fourth 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 during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Performance

Shares of NYSE FLS traded down $0.56 during midday trading on Friday, hitting $49.96. The company's stock had a trading volume of 1,112,739 shares, compared to its average volume of 1,300,958. The stock has a fifty day moving average price of $46.46 and a 200 day moving average price of $54.24. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08. 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 firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 1.35 and a beta of 1.21.

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

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, June 27th. Flowserve's dividend payout ratio (DPR) is currently 39.25%.

Analyst Ratings Changes

Several research firms recently weighed in on FLS. Royal Bank of Canada boosted their price target on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Mizuho set a $60.00 price target on shares of Flowserve in a report on Friday, May 16th. Citigroup cut their price target on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Robert W. Baird dropped their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flowserve presently has an average rating of "Buy" and an average target price of $63.00.

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.