Point72 Asia Singapore Pte. Ltd. Has $59,000 Stake in Flowserve Co. (NYSE:FLS)

Point72 Asia Singapore Pte. Ltd. decreased its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 83.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,031 shares of the industrial products company's stock after selling 5,217 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Flowserve were worth $59,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FLS. Headlands Technologies LLC increased its holdings in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after purchasing an additional 479 shares during the period. Colonial Trust Co SC increased its holdings in shares of Flowserve by 415.7% during the 4th 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 period. UMB Bank n.a. increased its holdings in shares of Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after purchasing an additional 278 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Flowserve by 185.9% during the 4th 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 period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Flowserve by 34.6% during the 4th 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 period. Institutional investors own 93.93% of the company's stock.

Analysts Set New Price Targets

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

Flowserve Price Performance

NYSE:FLS traded up $0.20 on Friday, reaching $49.58. The stock had a trading volume of 946,930 shares, compared to its average volume of 1,297,092. The company has a market capitalization of $6.48 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average price of $46.60 and a 200-day moving average price of $54.58.

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

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

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.