SG Capital Management LLC Trims Stake in Flowserve Co. (NYSE:FLS)

SG Capital Management LLC lessened its holdings in shares of Flowserve Co. (NYSE:FLS) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,927 shares of the industrial products company’s stock after selling 8,002 shares during the period. 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 modified their holdings of FLS. Vanguard Group Inc. grew its position in Flowserve by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company’s stock valued at $775,209,000 after acquiring an additional 101,668 shares during the last quarter. FIL Ltd grew its holdings in shares of Flowserve by 71.7% in the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock worth $302,271,000 after purchasing an additional 2,193,904 shares during the last quarter. AQR Capital Management LLC increased its stake in Flowserve by 9.7% in the 4th quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company’s stock worth $168,272,000 after buying an additional 258,361 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Flowserve by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company’s stock valued at $136,213,000 after buying an additional 38,340 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Flowserve by 52.7% in the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company’s stock valued at $118,953,000 after buying an additional 714,063 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FLS shares. Royal Bank of Canada lifted their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their target price on Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. TD Cowen upped their target price on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Mizuho raised their price target on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $64.11.

Flowserve Stock Performance

FLS opened at $51.17 on Friday. The company has a market cap of $6.69 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. Flowserve Co. has a 52-week low of $37.34 and a 52-week high of $65.08. 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 firm’s 50-day moving average price is $46.41 and its 200-day moving average price is $54.76.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s dividend payout ratio 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.