Quantbot Technologies LP Has $484,000 Position in Flowserve Co. (NYSE:FLS)

Quantbot Technologies LP trimmed its position in Flowserve Co. (NYSE:FLS) by 80.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,412 shares of the industrial products company’s stock after selling 34,097 shares during the quarter. Quantbot Technologies LP’s holdings in Flowserve were worth $484,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in shares of Flowserve by 71.7% in the third quarter. Cerity Partners LLC now owns 58,587 shares of the industrial products company’s stock valued at $3,028,000 after acquiring an additional 24,460 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Flowserve by 89.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 1,700 shares in the last quarter. FMR LLC increased its holdings in shares of Flowserve by 15.6% during the third quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock worth $46,170,000 after purchasing an additional 120,396 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Flowserve in the third quarter valued at approximately $42,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Flowserve by 51.7% in the third quarter. BNP Paribas Financial Markets now owns 104,884 shares of the industrial products company’s stock valued at $5,421,000 after buying an additional 35,735 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective on the stock in a research note on Monday, March 17th. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. TD Cowen upped their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Mizuho raised their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus upped their price target on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Down 3.4 %

FLS stock opened at $48.72 on Friday. Flowserve Co. has a 1-year low of $43.66 and a 1-year high of $65.08. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. 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 50 day moving average is $56.54 and its 200 day moving average is $56.40.

Flowserve (NYSE:FLS) last posted 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). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Sell-side analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.72%. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

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.