Quantbot Technologies LP Sells 34,097 Shares of Flowserve Co. (NYSE:FLS)

Quantbot Technologies LP decreased its position in Flowserve Co. (NYSE:FLS) by 80.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,412 shares of the industrial products company’s stock after selling 34,097 shares during the period. Quantbot Technologies LP’s holdings in Flowserve were worth $484,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after acquiring an additional 37,132 shares during the period. Geode Capital Management LLC increased its holdings in 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 valued at $113,851,000 after purchasing an additional 23,529 shares during the period. Point72 Asset Management L.P. raised its position in Flowserve by 197.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after purchasing an additional 606,416 shares during the last quarter. FMR LLC grew its position in shares of Flowserve by 15.6% in the 3rd quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock worth $46,170,000 after buying an additional 120,396 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Flowserve by 28.5% in the 4th quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company’s stock worth $42,876,000 after buying an additional 165,449 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLS has been the subject of a number of research analyst reports. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and raised their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Stifel Nicolaus raised their target price on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada reduced their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. TD Cowen raised their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price on the stock in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Down 3.4 %

FLS stock opened at $48.72 on Friday. The business has a 50 day moving average of $56.54 and a 200 day moving average of $56.40. The firm has a market cap of $6.42 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. Flowserve Co. has a twelve month low of $43.66 and a twelve month 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.

Flowserve (NYSE:FLS) last posted its quarterly earnings results 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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, research analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared 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 1.72%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is 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.