Natixis Advisors LLC Cuts Position in Flowserve Corporation (NYSE:FLS)

Key Points

• Natixis Advisors LLC reduced its stake in Flowserve Corporation by 11.6%, selling 8,989 shares in the first quarter, leaving it with approximately 0.05% ownership valued at $3.36 million.
• Several institutional investors significantly increased their positions in Flowserve, with 93.93% of the stock now owned by institutional investors and hedge funds.
• Flowserve recently reported earnings surpassing estimates with an EPS of $0.91 and announced a quarterly dividend of $0.21, reflecting an annualized yield of 1.6%.

Natixis Advisors LLC lessened its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 11.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,720 shares of the industrial products company's stock after selling 8,989 shares during the period. Natixis Advisors LLC owned 0.05% of Flowserve worth $3,356,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Driehaus Capital Management LLC boosted its position in shares of Flowserve by 307.1% in the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock valued at $108,651,000 after purchasing an additional 1,424,948 shares during the period. Invesco Ltd. lifted its stake in Flowserve by 52.7% in the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock valued at $118,953,000 after buying an additional 714,063 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Flowserve by 57.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company's stock valued at $82,859,000 after acquiring an additional 527,250 shares during the period. Moore Capital Management LP purchased a new position in shares of Flowserve during the fourth quarter worth approximately $23,102,000. Finally, Marshall Wace LLP grew its position in shares of Flowserve by 1,625.3% during the fourth quarter. Marshall Wace LLP now owns 354,126 shares of the industrial products company's stock worth $20,369,000 after acquiring an additional 333,600 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Stock Performance

Shares of Flowserve stock traded down $1.51 on Thursday, reaching $52.27. 2,520,398 shares of the stock were exchanged, compared to its average volume of 2,933,204. The firm has a market capitalization of $6.84 billion, a PE ratio of 23.65, a PEG ratio of 1.12 and a beta of 1.28. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The business has a fifty day moving average price of $51.59 and a two-hundred day moving average price of $51.49. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.13. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. As a group, research analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a $0.21 dividend. The ex-dividend date was Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.6%. Flowserve's dividend payout ratio is presently 38.01%.

Analyst Ratings Changes

Several analysts recently commented on FLS shares. Stifel Nicolaus upped their price target on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. The Goldman Sachs Group upped their target price on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada boosted their price target on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Mizuho set a $60.00 price objective on Flowserve in a research report on Friday, May 16th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $65.78.

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.