Y Intercept Hong Kong Ltd Decreases Holdings in Flowserve Co. (NYSE:FLS)

Y Intercept Hong Kong Ltd trimmed its position in Flowserve Co. (NYSE:FLS) by 70.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,735 shares of the industrial products company’s stock after selling 25,760 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Flowserve were worth $617,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Flowserve in the third quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve in the third quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve in the third quarter worth $29,000. Allworth Financial LP increased its stake in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after buying an additional 278 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FLS. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Citigroup cut their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada cut their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus lifted their price target on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Mizuho lifted their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Stock Performance

Shares of FLS stock opened at $55.03 on Friday. Flowserve Co. has a 12 month low of $41.78 and a 12 month high of $65.08. The stock has a market cap of $7.23 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.42. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The company’s fifty day moving average price is $60.16 and its 200-day moving average price is $56.11.

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

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

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.