Charles Schwab Investment Management Inc. Has $100.23 Million Stake in Flowserve Co. (NYSE:FLS)

Charles Schwab Investment Management Inc. decreased its position in Flowserve Co. (NYSE:FLS) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,742,578 shares of the industrial products company’s stock after selling 13,303 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.33% of Flowserve worth $100,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. raised its holdings in shares of Flowserve by 197.6% during 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 period. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $86,055,000 after purchasing an additional 422,141 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Flowserve by 66.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company’s stock valued at $31,930,000 after purchasing an additional 220,805 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Flowserve by 28.5% during the fourth quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company’s stock valued at $42,876,000 after purchasing an additional 165,449 shares during the period. Finally, Regents Gate Capital LLP acquired a new position in shares of Flowserve during the fourth quarter valued at about $9,182,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 0.7 %

Shares of FLS stock opened at $48.44 on Monday. Flowserve Co. has a 52-week low of $43.00 and a 52-week 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 company has a 50-day simple moving average of $59.35 and a two-hundred day simple moving average of $56.34. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.35 and a beta of 1.43.

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

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Mizuho boosted their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Royal Bank of Canada decreased their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.60.

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.