Diversified Trust Co Sells 14,623 Shares of Flowserve Co. (NYSE:FLS)

Diversified Trust Co lowered its stake in Flowserve Co. (NYSE:FLS) by 24.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 45,714 shares of the industrial products company’s stock after selling 14,623 shares during the quarter. Diversified Trust Co’s holdings in Flowserve were worth $2,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. True Wealth Design LLC bought a new position in shares of Flowserve in the third quarter worth about $25,000. V Square Quantitative Management LLC purchased a new position in shares of Flowserve in the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve during the third quarter worth $29,000. Wilmington Savings Fund Society FSB purchased a new position in Flowserve during the third quarter valued at $29,000. Finally, Allworth Financial LP increased its holdings in Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 403 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Up 0.2 %

NYSE FLS opened at $59.40 on Wednesday. Flowserve Co. has a 52 week low of $39.21 and a 52 week high of $62.32. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.48 and a beta of 1.42. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $59.15 and a two-hundred day moving average of $52.85.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. Flowserve’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts predict that Flowserve Co. will post 2.71 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.41%. Flowserve’s payout ratio is 41.58%.

Wall Street Analyst Weigh In

Several research firms have commented on FLS. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective on the stock. Mizuho raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus upped their price target 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.40.

Flowserve Company 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.