Man Group plc Sells 54,525 Shares of Flowserve Co. (NYSE:FLS)

Man Group plc lessened its position in Flowserve Co. (NYSE:FLS - Free Report) by 55.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,892 shares of the industrial products company's stock after selling 54,525 shares during the quarter. Man Group plc's holdings in Flowserve were worth $2,525,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. New York Life Investment Management LLC acquired a new position in Flowserve during the fourth quarter valued at approximately $800,000. American Century Companies Inc. raised its stake in shares of Flowserve by 25.9% during the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock worth $6,384,000 after purchasing an additional 22,850 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Flowserve in the 4th quarter valued at approximately $422,000. Commonwealth Equity Services LLC grew its stake in shares of Flowserve by 103.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock valued at $1,197,000 after buying an additional 10,557 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in Flowserve during the fourth quarter worth $278,000. Institutional investors own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FLS shares. Mizuho set a $60.00 price target on shares of Flowserve in a research report on Friday, May 16th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Stifel Nicolaus raised their target price on shares of Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Citigroup lowered their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada upped their price objective on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $63.00.

Flowserve Stock Performance

FLS stock traded down $0.40 during trading hours on Wednesday, hitting $50.51. 186,757 shares of the stock were exchanged, compared to its average volume of 1,294,541. Flowserve Co. has a 12 month low of $37.34 and a 12 month 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 $6.60 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.35 and a beta of 1.21. The company has a 50-day simple moving average of $46.56 and a two-hundred day simple moving average of $54.45.

Flowserve (NYSE:FLS - Get Free Report) last issued 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 analysts' expectations of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 EPS. On average, analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.66%. Flowserve's dividend payout ratio is currently 39.25%.

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.