Flowserve Co. (NYSE:FLS) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 27.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 424,905 shares of the industrial products company's stock after selling 159,288 shares during the period. Voya Investment Management LLC owned approximately 0.32% of Flowserve worth $24,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York Life Investment Management LLC acquired a new position in shares of Flowserve during the 4th quarter worth approximately $800,000. American Century Companies Inc. raised its position in Flowserve by 25.9% during the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock worth $6,384,000 after acquiring an additional 22,850 shares during the period. New Age Alpha Advisors LLC acquired a new position in Flowserve during the fourth quarter worth $422,000. Commonwealth Equity Services LLC lifted its holdings in Flowserve by 103.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock valued at $1,197,000 after purchasing an additional 10,557 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Flowserve by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Trading Up 3.2 %

FLS stock traded up $1.50 during trading on Friday, reaching $47.66. 529,240 shares of the stock were exchanged, compared to its average volume of 1,279,366. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 1.35 and a beta of 1.22. The business has a 50 day moving average price of $46.94 and a 200-day moving average price of $55.08. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08.

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 the consensus estimate 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 business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. On average, research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. Flowserve's payout ratio is currently 39.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday. TD Cowen raised their target price on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Royal Bank of Canada lifted their price target on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday. Citigroup reduced their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Mizuho lifted their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Flowserve has an average rating of "Buy" and a consensus price target of $64.11.

Flowserve 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.