AXQ Capital LP Has $1.01 Million Stake in Flowserve Co. (NYSE:FLS)

AXQ Capital LP lowered its stake in shares of Flowserve Co. (NYSE:FLS) by 49.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,611 shares of the industrial products company’s stock after selling 17,557 shares during the quarter. AXQ Capital LP’s holdings in Flowserve were worth $1,013,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Flowserve by 46.6% during the 3rd quarter. Victory Capital Management Inc. now owns 184,864 shares of the industrial products company’s stock worth $9,556,000 after buying an additional 58,769 shares in the last quarter. Prospera Financial Services Inc increased its position in Flowserve by 4.7% in the 3rd quarter. Prospera Financial Services Inc now owns 29,311 shares of the industrial products company’s stock valued at $1,515,000 after acquiring an additional 1,314 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Flowserve by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after purchasing an additional 277 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after purchasing an additional 422,141 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Flowserve by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company’s stock valued at $90,761,000 after purchasing an additional 4,414 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. TD Cowen raised their target price on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Trading Down 1.5 %

NYSE:FLS opened at $50.65 on Friday. The firm’s 50 day moving average is $57.54 and its 200 day moving average is $56.25. Flowserve Co. has a 12 month low of $43.66 and a 12 month high of $65.08. The stock has a market capitalization of $6.67 billion, a PE ratio of 23.67, 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.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.21 billion. Sell-side analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

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 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 1.66%. Flowserve’s dividend payout ratio is currently 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.