Asset Management One Co. Ltd. Sells 252 Shares of Flowserve Co. (NYSE:FLS)

Asset Management One Co. Ltd. reduced its position in shares of Flowserve Co. (NYSE:FLS) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,574 shares of the industrial products company’s stock after selling 252 shares during the period. Asset Management One Co. Ltd.’s holdings in Flowserve were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLS. Point72 Asset Management L.P. lifted its stake in shares of Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after acquiring an additional 606,416 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after acquiring an additional 422,141 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Flowserve by 66.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company’s stock worth $31,930,000 after acquiring an additional 220,805 shares during the period. Regents Gate Capital LLP acquired a new position in shares of Flowserve in the fourth quarter worth approximately $9,182,000. Finally, FMR LLC lifted its stake in shares of Flowserve by 15.6% in the third quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock worth $46,170,000 after acquiring an additional 120,396 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

Shares of NYSE:FLS opened at $57.47 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a twelve month low of $41.60 and a twelve month high of $65.08. The stock’s 50 day moving average is $60.68 and its 200-day moving average is $55.70. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.28 and a beta of 1.42.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a return on equity of 17.11% and a net margin of 6.20%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Sell-side analysts forecast that Flowserve Co. will post 3.21 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Analyst Ratings Changes

FLS has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada cut their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday. Stifel Nicolaus lifted their price objective on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho boosted their price target on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

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.