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

Woodstock Corp decreased its holdings in Flowserve Co. (NYSE:FLS) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,043 shares of the industrial products company’s stock after selling 1,170 shares during the quarter. Woodstock Corp’s holdings in Flowserve were worth $4,892,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. True Wealth Design LLC purchased a new stake in Flowserve during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Flowserve during the third quarter worth approximately $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve in the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve in the third quarter valued at $29,000. Finally, Allworth Financial LP raised its holdings in Flowserve by 159.9% in the third 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 in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

Shares of NYSE FLS opened at $62.76 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The firm has a market capitalization of $8.25 billion, a PE ratio of 31.07, a P/E/G ratio of 1.17 and a beta of 1.42. Flowserve Co. has a 1-year low of $39.37 and a 1-year high of $63.23. The business’s fifty day moving average price is $59.77 and its two-hundred day moving average price is $53.35.

Flowserve (NYSE:FLS) last issued its quarterly earnings data 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, research analysts expect that Flowserve Co. will post 2.71 EPS for the current year.

Flowserve Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FLS shares. Jefferies Financial Group began coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price for the company. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Mizuho upped their price objective on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their target price on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Bank of America upped their price target on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.10.

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.