Flowserve Corporation (NYSE:FLS) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 22.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,966 shares of the industrial products company's stock after selling 27,767 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of Flowserve worth $4,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC increased its stake in shares of Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after buying an additional 479 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Flowserve during the fourth quarter valued at $33,000. Colonial Trust Co SC increased its stake in Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 478 shares during the last quarter. Signaturefd LLC increased its stake in 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 purchasing an additional 429 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in Flowserve by 80.1% during the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 394 shares during the last quarter. Institutional investors own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FLS shares. 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. Citigroup boosted their target price on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, July 14th. The Goldman Sachs Group boosted their price target on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Mizuho set a $60.00 price objective on shares of Flowserve in a report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $64.00.

Flowserve Price Performance

FLS stock traded up $0.23 during trading on Friday, hitting $54.59. The company had a trading volume of 485,309 shares, compared to its average volume of 1,974,106. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 1.20 and a beta of 1.25. The business has a 50 day moving average of $50.75 and a 200 day moving average of $51.90. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. 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 posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, June 27th. Flowserve's payout ratio is currently 39.25%.

About Flowserve

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.