SG Capital Management LLC Sells 8,002 Shares of Flowserve Co. (NYSE:FLS)

SG Capital Management LLC reduced its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,927 shares of the industrial products company's stock after selling 8,002 shares during the quarter. SG Capital Management LLC's holdings in Flowserve were worth $2,757,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Sherbrooke Park Advisers LLC acquired a new position in shares of Flowserve during the fourth quarter valued at about $1,481,000. Silvercrest Asset Management Group LLC lifted its position in shares of Flowserve by 9.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 849,502 shares of the industrial products company's stock valued at $48,863,000 after purchasing an additional 75,952 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Flowserve by 57.7% during 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 purchasing an additional 527,250 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Flowserve by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 6,146 shares of the industrial products company's stock valued at $354,000 after purchasing an additional 419 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Flowserve by 56.3% during the fourth quarter. Quantinno Capital Management LP now owns 35,449 shares of the industrial products company's stock valued at $2,039,000 after purchasing an additional 12,768 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLS has been the topic of a number of recent analyst reports. Citigroup dropped their price target 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 raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Stifel Nicolaus raised their price target 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. Mizuho set a $60.00 price target on shares of Flowserve in a research report on Friday. Finally, StockNews.com raised shares of Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. 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, Flowserve has a consensus rating of "Buy" and a consensus price target of $63.00.

Flowserve Stock Performance

FLS stock traded down $0.22 during mid-day trading on Monday, hitting $51.40. The company had a trading volume of 874,769 shares, compared to its average volume of 1,296,564. The firm has a market cap of $6.72 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08. The stock's fifty day moving average price is $46.56 and its two-hundred day moving average price is $54.74.

Flowserve (NYSE:FLS - Get Free Report) last announced 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 company had revenue of $1.14 billion for 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%. Flowserve's revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $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 firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, June 27th. Flowserve's payout ratio is currently 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.