Monarch Capital Management Inc. Sells 3,105 Shares of Flowserve Co. (NYSE:FLS)

Monarch Capital Management Inc. cut its position in shares of Flowserve Co. (NYSE:FLS) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,131 shares of the industrial products company’s stock after selling 3,105 shares during the period. Monarch Capital Management Inc.’s holdings in Flowserve were worth $2,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after buying an additional 37,132 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Flowserve by 14.0% during the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock worth $12,619,000 after acquiring an additional 29,979 shares during the period. Vestcor Inc acquired a new stake in shares of Flowserve during the 3rd quarter valued at about $714,000. Millennium Management LLC increased its stake in Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares during the period. Finally, Interval Partners LP raised its position in Flowserve by 60.1% in the second quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock worth $44,593,000 after purchasing an additional 348,107 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLS shares. Bank of America lifted their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird raised their target price on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Mizuho increased their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus boosted their target price on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.10.

Flowserve Price Performance

Shares of FLS stock opened at $63.61 on Friday. The stock’s fifty day moving average is $59.85 and its 200-day moving average is $53.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve Co. has a 52 week low of $39.69 and a 52 week high of $63.86. The stock has a market capitalization of $8.36 billion, a PE ratio of 31.49, a PEG ratio of 1.17 and a beta of 1.42.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business posted $0.50 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts expect that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.21 per share. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.32%. Flowserve’s payout ratio is currently 41.58%.

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.