Flowserve Co. (NYSE:FLS) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its stake in shares of Flowserve Co. (NYSE:FLS) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,254 shares of the industrial products company’s stock after selling 310 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Flowserve were worth $475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLS. True Wealth Design LLC purchased a new position in shares of Flowserve in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in Flowserve in the third quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in Flowserve in the third quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Flowserve during the 3rd quarter worth approximately $29,000. Finally, Allworth Financial LP increased its position in shares of 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 purchasing an additional 403 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Price Performance

FLS stock opened at $64.06 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $8.42 billion, a P/E ratio of 31.71, a PEG ratio of 1.31 and a beta of 1.42. The business has a 50 day simple moving average of $60.27 and a 200-day simple moving average of $54.16. Flowserve Co. has a twelve month low of $39.69 and a twelve month high of $65.08.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Flowserve Co. will post 2.7 EPS for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is presently 41.58%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Citigroup decreased their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Mizuho raised their target price on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Stifel Nicolaus upped their price target on Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.50.

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.