Expect Equity LLC trimmed its stake in Flowserve Corporation (NYSE:FLS – Free Report) by 15.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 51,924 shares of the industrial products company’s stock after selling 9,335 shares during the period. Flowserve makes up about 3.5% of Expect Equity LLC’s investment portfolio, making the stock its 4th biggest position. Expect Equity LLC’s holdings in Flowserve were worth $3,602,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. UBS Group AG boosted its position in Flowserve by 67.8% in the 3rd quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock valued at $220,367,000 after buying an additional 1,676,284 shares during the period. AQR Capital Management LLC boosted its position in Flowserve by 9.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company’s stock valued at $171,648,000 after buying an additional 290,226 shares during the period. Earnest Partners LLC boosted its position in Flowserve by 5.0% in the 3rd quarter. Earnest Partners LLC now owns 2,885,879 shares of the industrial products company’s stock valued at $153,356,000 after buying an additional 136,867 shares during the period. Nuveen LLC boosted its position in Flowserve by 6.1% in the 4th quarter. Nuveen LLC now owns 2,777,288 shares of the industrial products company’s stock valued at $192,688,000 after buying an additional 158,661 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Flowserve by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,745,206 shares of the industrial products company’s stock valued at $190,468,000 after buying an additional 299,346 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.
Flowserve Stock Performance
Shares of FLS stock opened at $79.00 on Thursday. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.81 and a beta of 1.22. The company’s 50 day moving average is $76.09 and its 200 day moving average is $76.63. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. Flowserve Corporation has a 52-week low of $45.11 and a 52-week high of $92.41.
Flowserve Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, June 26th. Flowserve’s payout ratio is 32.59%.
Analysts Set New Price Targets
FLS has been the subject of several recent research reports. Royal Bank Of Canada reduced their price target on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Wall Street Zen lowered shares of Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. TD Cowen reissued a “buy” rating on shares of Flowserve in a report on Friday, May 1st. Weiss Ratings lowered shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price objective on shares of Flowserve in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.70.
Check Out Our Latest Stock Report on Flowserve
Insider Activity at Flowserve
In other news, Director Brian D. Savoy acquired 1,000 shares of Flowserve stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the purchase, the director directly owned 1,000 shares in the company, valued at $67,340. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by company insiders.
Flowserve Profile
Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.
Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.
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