Private Advisor Group LLC Trims Stock Position in Flowserve Co. (NYSE:FLS)

Private Advisor Group LLC lowered its holdings in shares of Flowserve Co. (NYSE:FLS) by 23.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,020 shares of the industrial products company’s stock after selling 1,237 shares during the quarter. Private Advisor Group LLC’s holdings in Flowserve were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Toronto Dominion Bank increased its position in shares of Flowserve by 0.7% during the 1st quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock valued at $2,127,000 after purchasing an additional 305 shares during the last quarter. Signaturefd LLC increased its holdings in Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 370 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Flowserve by 7.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 426 shares in the last quarter. Creative Planning increased its holdings in Flowserve by 6.9% in the 3rd quarter. Creative Planning now owns 6,879 shares of the industrial products company’s stock worth $356,000 after acquiring an additional 444 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in Flowserve in the 3rd quarter worth approximately $27,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 2.0 %

NYSE:FLS opened at $59.86 on Friday. Flowserve Co. has a twelve month low of $37.00 and a twelve month high of $60.21. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.38. The stock has a fifty day simple moving average of $51.71 and a 200-day simple moving average of $49.45. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. Analysts anticipate that Flowserve Co. will post 2.71 EPS for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.40%. Flowserve’s dividend payout ratio is currently 41.58%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Bank of America increased their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.10.

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.