Kapitalo Investimentos Ltda Decreases Position in Flowserve Co. (NYSE:FLS)

Kapitalo Investimentos Ltda lowered its position in Flowserve Co. (NYSE:FLS) by 41.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,804 shares of the industrial products company’s stock after selling 1,967 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Flowserve were worth $161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Flowserve by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company’s stock valued at $775,209,000 after acquiring an additional 101,668 shares in the last quarter. FIL Ltd boosted its stake in shares of Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock worth $302,271,000 after purchasing an additional 2,193,904 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Flowserve by 9.7% during the fourth quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company’s stock worth $168,272,000 after buying an additional 258,361 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Flowserve by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company’s stock valued at $136,213,000 after buying an additional 38,340 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company’s stock valued at $118,953,000 after buying an additional 714,063 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on FLS shares. Royal Bank of Canada lowered their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Stifel Nicolaus lowered their price target on Flowserve from $77.00 to $50.00 and set a “buy” rating for the company in a report on Monday, April 14th. Mizuho raised 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. Finally, StockNews.com raised shares of Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $64.30.

Flowserve Price Performance

Flowserve stock opened at $45.20 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $5.95 billion, a P/E ratio of 21.12, a PEG ratio of 1.35 and a beta of 1.22. The firm has a fifty day moving average of $47.12 and a 200-day moving average of $55.14. Flowserve Co. has a 52-week low of $37.34 and a 52-week high of $65.08.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company posted $0.58 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.86%. 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.