Flowserve Co. (NYSE:FLS) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its position in Flowserve Co. (NYSE:FLS) by 42.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,574,832 shares of the industrial products company’s stock after selling 1,868,784 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Flowserve were worth $148,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FLS. Pictet Asset Management Holding SA increased its stake in shares of Flowserve by 9.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 18,752 shares of the industrial products company’s stock worth $1,079,000 after acquiring an additional 1,581 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Flowserve during the 4th quarter worth about $422,000. Norges Bank purchased a new position in shares of Flowserve during the 4th quarter valued at about $94,629,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Flowserve in the 4th quarter valued at about $897,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Flowserve in the fourth quarter worth about $23,614,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Price Performance

Shares of Flowserve stock opened at $48.72 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The business has a 50 day simple moving average of $56.54 and a two-hundred day simple moving average of $56.40. The stock has a market capitalization of $6.42 billion, a P/E ratio of 22.77, a PEG 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.

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

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.72%. Flowserve’s payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada decreased their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a research report on Monday, March 17th. Citigroup decreased their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and increased their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.60.

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.