Moody National Bank Trust Division Has $466,000 Stock Position in Flowserve Co. (NYSE:FLS)

Moody National Bank Trust Division lessened its stake in Flowserve Co. (NYSE:FLS) by 5.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,108 shares of the industrial products company’s stock after selling 496 shares during the quarter. Moody National Bank Trust Division’s holdings in Flowserve were worth $466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FLS. Michael S. Ryan Inc. lifted its stake in Flowserve by 4.6% in the fourth quarter. Michael S. Ryan Inc. now owns 8,351 shares of the industrial products company’s stock valued at $480,000 after acquiring an additional 370 shares during the last quarter. Oliver Luxxe Assets LLC bought a new stake in shares of Flowserve in the 4th quarter valued at about $2,753,000. Insight Wealth Strategies LLC lifted its stake in Flowserve by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 67,744 shares of the industrial products company’s stock valued at $3,897,000 after purchasing an additional 1,051 shares during the last quarter. GAMMA Investing LLC grew its holdings in Flowserve by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 290 shares during the period. Finally, Franklin Resources Inc. increased its position in Flowserve by 7.8% during the third quarter. Franklin Resources Inc. now owns 70,645 shares of the industrial products company’s stock worth $3,909,000 after buying an additional 5,127 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $59.60 on Wednesday. Flowserve Co. has a 12-month low of $39.37 and a 12-month high of $62.32. The company’s 50 day moving average price is $59.67 and its two-hundred day moving average price is $53.23. The firm has a market cap of $7.83 billion, a PE ratio of 29.51, a PEG ratio of 1.46 and a beta of 1.41. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

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

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 annualized dividend and a yield of 1.41%. Flowserve’s dividend payout ratio is 41.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup reduced their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Bank of America increased their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Finally, Mizuho increased their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and a consensus price target of $64.30.

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.