Teza Capital Management LLC Sells 51,024 Shares of Flowserve Co. (NYSE:FLS)

Teza Capital Management LLC lessened its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 54.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,792 shares of the industrial products company's stock after selling 51,024 shares during the quarter. Teza Capital Management LLC's holdings in Flowserve were worth $2,461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLS. Headlands Technologies LLC increased its stake in 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 acquiring an additional 479 shares during the period. Colonial Trust Co SC grew 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 in the last quarter. UMB Bank n.a. increased its position in shares of Flowserve by 64.2% in the fourth 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. True Wealth Design LLC increased its position in shares of Flowserve by 80.1% in the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after purchasing an additional 394 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Flowserve by 185.9% in the fourth 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. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Flowserve stock traded up $0.15 during mid-day trading on Friday, reaching $49.53. The company had a trading volume of 367,127 shares, compared to its average volume of 1,295,803. The business has a fifty day simple moving average of $46.61 and a 200 day simple moving average of $54.65. The company has a market cap of $6.47 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.35 and a beta of 1.21. Flowserve Co. 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 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business posted $0.58 EPS. Flowserve's revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve's payout ratio is currently 39.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Flowserve from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Stifel Nicolaus lifted their price objective 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. Robert W. Baird cut their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Citigroup decreased their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $63.00.

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.