Sei Investments Co. Sells 2,568 Shares of Flowserve Co. (NYSE:FLS)

Sei Investments Co. trimmed its position in Flowserve Co. (NYSE:FLS) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 155,593 shares of the industrial products company’s stock after selling 2,568 shares during the quarter. Sei Investments Co. owned approximately 0.12% of Flowserve worth $8,950,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FLS. Cerity Partners LLC raised its stake in Flowserve by 71.7% in the third quarter. Cerity Partners LLC now owns 58,587 shares of the industrial products company’s stock valued at $3,028,000 after buying an additional 24,460 shares during the period. Daiwa Securities Group Inc. raised its stake in Flowserve by 89.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the industrial products company’s stock valued at $186,000 after acquiring an additional 1,700 shares during the period. FMR LLC lifted its holdings in Flowserve by 15.6% during the 3rd quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock valued at $46,170,000 after purchasing an additional 120,396 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Flowserve by 51.7% during the third quarter. BNP Paribas Financial Markets now owns 104,884 shares of the industrial products company’s stock worth $5,421,000 after purchasing an additional 35,735 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Flowserve by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 368,086 shares of the industrial products company’s stock valued at $19,026,000 after purchasing an additional 14,452 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Down 3.4 %

FLS stock opened at $48.72 on Monday. The company 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. 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 Co. has a 52 week low of $43.66 and a 52 week high of $65.08. The business has a 50-day simple moving average of $56.54 and a 200 day simple moving average of $56.56.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Sell-side analysts anticipate that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.72%. Flowserve’s dividend payout ratio is currently 39.25%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Stifel Nicolaus boosted their price objective on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada lowered their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, Robert W. Baird raised Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Monday, March 17th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve 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.