Flowserve Co. (NYSE:FLS) Shares Sold by Woodstock Corp

Woodstock Corp lessened its position in Flowserve Co. (NYSE:FLS) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,043 shares of the industrial products company’s stock after selling 1,170 shares during the period. Woodstock Corp owned about 0.06% of Flowserve worth $4,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Millennium Management LLC raised its holdings in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after purchasing an additional 663,631 shares during the period. Point72 Asset Management L.P. increased its stake in 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 valued at $47,207,000 after purchasing an additional 606,416 shares during the last quarter. Hood River Capital Management LLC purchased a new position in Flowserve during the second quarter worth about $23,911,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Flowserve by 34.0% during 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 buying an additional 422,141 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup dropped their price objective on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Robert W. Baird boosted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group began coverage on Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.10.

Flowserve Stock Up 3.4 %

Shares of Flowserve stock opened at $62.76 on Friday. Flowserve Co. has a twelve month low of $39.37 and a twelve month high of $63.23. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 1.17 and a beta of 1.42. 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 fifty day moving average price of $59.77 and a 200 day moving average price of $53.35.

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

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. Flowserve’s dividend payout ratio is currently 41.58%.

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.