Flowserve Co. (NYSE:FLS) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lowered its stake in shares of Flowserve Co. (NYSE:FLS) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,320,109 shares of the industrial products company’s stock after selling 60,458 shares during the quarter. Flowserve makes up about 0.8% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 20th largest holding. Gamco Investors INC. ET AL’s holdings in Flowserve were worth $75,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLS. Vanguard Group Inc. lifted its stake in Flowserve by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company’s stock worth $775,209,000 after purchasing an additional 101,668 shares during the last quarter. FIL Ltd raised its stake in Flowserve by 71.7% during the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock worth $302,271,000 after acquiring an additional 2,193,904 shares during the period. Geode Capital Management LLC raised its position in shares of Flowserve by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock worth $113,851,000 after purchasing an additional 23,529 shares during the period. Invesco Ltd. increased its position in Flowserve by 52.7% in the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company’s stock worth $118,953,000 after buying an additional 714,063 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Flowserve by 10.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,832,204 shares of the industrial products company’s stock worth $105,388,000 after acquiring an additional 167,379 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. 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. Stifel Nicolaus decreased their price objective on shares of Flowserve from $77.00 to $50.00 and set a “buy” rating for the company in a report on Monday. TD Cowen upped their target price on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup cut their price objective on Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.30.

Flowserve Stock Performance

Shares of FLS stock opened at $42.46 on Tuesday. The stock’s 50-day moving average is $51.52 and its two-hundred day moving average is $56.02. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The firm has a market cap of $5.59 billion, a P/E ratio of 19.84, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

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

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

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.