Flowserve Corporation (NYSE:FLS) Stock Position Lowered by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. reduced its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 32.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,025 shares of the industrial products company's stock after selling 182,090 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.28% of Flowserve worth $18,219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FLS. Allspring Global Investments Holdings LLC grew its stake in Flowserve by 185.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 30,869 shares of the industrial products company's stock worth $1,770,000 after purchasing an additional 20,053 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Flowserve in the 4th quarter worth approximately $5,831,000. Keystone Financial Services bought a new stake in shares of Flowserve in the 4th quarter valued at approximately $213,000. Capital Performance Advisors LLP raised its position in shares of Flowserve by 64.0% during the 4th quarter. Capital Performance Advisors LLP now owns 3,506 shares of the industrial products company's stock valued at $202,000 after acquiring an additional 1,368 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in Flowserve during the fourth quarter worth $234,000. Institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FLS shares. Royal Bank Of Canada increased their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price objective on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Wall Street Zen upgraded Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Citigroup lowered their target price on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Flowserve has an average rating of "Buy" and an average target price of $63.00.

Flowserve Stock Performance

FLS stock traded up $0.01 during trading on Thursday, reaching $46.42. 2,410,978 shares of the company's stock were exchanged, compared to its average volume of 1,420,899. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The firm has a market cap of $6.07 billion, a PE ratio of 21.69, a P/E/G ratio of 1.06 and a beta of 1.26. The company's fifty day moving average price is $47.08 and its 200-day moving average price is $53.15. The company has a quick ratio of 1.46, a current ratio of 2.07 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. On average, research analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, June 27th. Flowserve's dividend payout ratio (DPR) is presently 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.