Freemont Management S.A. Cuts Stock Position in Flowserve Corporation (NYSE:FLS)

Key Points

• Freemont Management S.A. has reduced its holdings in Flowserve Corporation by 8.8%, selling 5,300 shares during the first quarter, leaving a total of 54,800 shares valued at approximately $2.68 million.
• Flowserve's latest earnings report revealed a profit of $0.72 per share, exceeding analysts' expectations and reflecting a 5.2% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.21 per share, representing an annualized yield of 1.54%, with a payout ratio of 39.25%.

Freemont Management S.A. lowered its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 54,800 shares of the industrial products company's stock after selling 5,300 shares during the quarter. Freemont Management S.A.'s holdings in Flowserve were worth $2,676,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Flowserve by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock valued at $775,209,000 after acquiring an additional 101,668 shares during the period. FIL Ltd boosted its stake in Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after purchasing an additional 2,193,904 shares during the last quarter. AQR Capital Management LLC boosted its stake in Flowserve by 9.7% during the 4th quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company's stock worth $168,272,000 after purchasing an additional 258,361 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Flowserve by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company's stock worth $136,213,000 after purchasing an additional 38,340 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Flowserve by 52.7% during the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after purchasing an additional 714,063 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Trading Up 0.3%

FLS traded up $0.19 on Tuesday, hitting $55.05. The company had a trading volume of 8,414,600 shares, compared to its average volume of 2,030,702. The firm has a market cap of $7.20 billion, a P/E ratio of 25.71, a PEG ratio of 1.21 and a beta of 1.25. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $65.08. The company's fifty day moving average price is $50.88 and its 200 day moving average price is $51.74. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.14. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. As a group, equities analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.53%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FLS. Stifel Nicolaus lifted their target price on shares of Flowserve from $59.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Mizuho set a $60.00 target price on shares of Flowserve in a research note on Friday, May 16th. Citigroup lifted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada lifted their price target on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price target on Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Flowserve presently has a consensus rating of "Buy" and a consensus target price of $64.00.

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.