Flowserve Co. (NYSE:FLS) Shares Sold by Amundi

Amundi lessened its stake in shares of Flowserve Co. (NYSE:FLS) by 83.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 126,357 shares of the industrial products company’s stock after selling 650,743 shares during the quarter. Amundi’s holdings in Flowserve were worth $7,456,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Crossmark Global Holdings Inc. lifted its holdings in shares of Flowserve by 3.9% during the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 318 shares during the last quarter. Versor Investments LP boosted its holdings in shares of Flowserve by 33.5% in the third quarter. Versor Investments LP now owns 5,584 shares of the industrial products company’s stock worth $289,000 after buying an additional 1,400 shares during the period. Victory Capital Management Inc. increased its position in shares of Flowserve by 46.6% in the third quarter. Victory Capital Management Inc. now owns 184,864 shares of the industrial products company’s stock worth $9,556,000 after acquiring an additional 58,769 shares in the last quarter. KBC Group NV raised its holdings in shares of Flowserve by 17.9% during the third quarter. KBC Group NV now owns 3,432 shares of the industrial products company’s stock valued at $177,000 after acquiring an additional 522 shares during the period. Finally, ING Groep NV lifted its position in shares of Flowserve by 52.6% in the 3rd quarter. ING Groep NV now owns 58,000 shares of the industrial products company’s stock valued at $2,998,000 after acquiring an additional 20,000 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Price Performance

NYSE FLS opened at $49.00 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $6.45 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 12-month low of $43.66 and a 12-month high of $65.08. The company has a 50 day moving average price of $58.36 and a two-hundred day moving average price of $56.25.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. As a group, equities analysts predict that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio is 39.25%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FLS. Citigroup lowered their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada reduced their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus lifted their target price on Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Flowserve has an average rating of “Moderate Buy” and an average target price of $68.60.

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.