Sanctuary Advisors LLC Cuts Holdings in Flowserve Co. (NYSE:FLS)

Sanctuary Advisors LLC lowered its holdings in Flowserve Co. (NYSE:FLS) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,587 shares of the industrial products company’s stock after selling 4,099 shares during the quarter. Sanctuary Advisors LLC’s holdings in Flowserve were worth $855,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Flowserve during the third quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Flowserve in the 3rd quarter worth about $29,000. Allworth Financial LP grew its stake in 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 acquiring an additional 403 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 278 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Price Performance

Flowserve stock opened at $54.46 on Friday. Flowserve Co. has a 1 year low of $41.78 and a 1 year high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The firm has a 50 day moving average price of $60.29 and a 200 day moving average price of $56.06. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.35 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Sell-side analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.54%. Flowserve’s payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLS. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Royal Bank of Canada reduced their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. TD Cowen lifted their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Mizuho boosted their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.