Russell Investments Group Ltd. Lowers Stake in Flowserve Corp (FLS)

Russell Investments Group Ltd. lessened its position in shares of Flowserve Corp (NYSE:FLS) by 13.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,289 shares of the industrial products company’s stock after selling 4,084 shares during the period. Russell Investments Group Ltd.’s holdings in Flowserve were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FLS. EdgePoint Investment Group Inc. increased its holdings in Flowserve by 22.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after acquiring an additional 1,146,084 shares during the period. Pictet Asset Management Ltd. increased its holdings in Flowserve by 78.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,339,145 shares of the industrial products company’s stock worth $99,624,000 after acquiring an additional 1,028,684 shares during the period. Principal Financial Group Inc. increased its holdings in Flowserve by 171.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,478,771 shares of the industrial products company’s stock worth $68,660,000 after acquiring an additional 934,354 shares during the period. Janus Henderson Group PLC increased its holdings in Flowserve by 2,307.4% during the 2nd quarter. Janus Henderson Group PLC now owns 582,937 shares of the industrial products company’s stock worth $27,066,000 after acquiring an additional 558,723 shares during the period. Finally, Honeywell International Inc. bought a new stake in Flowserve during the 3rd quarter worth approximately $22,700,000.

FLS has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 target price on shares of Flowserve in a report on Sunday, September 3rd. Robert W. Baird reaffirmed a “hold” rating and set a $43.00 target price on shares of Flowserve in a report on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of Flowserve in a report on Thursday, September 28th. Boenning Scattergood reaffirmed a “hold” rating on shares of Flowserve in a report on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of Flowserve from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.33.

Flowserve Corp (FLS) opened at $42.13 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. Flowserve Corp has a 12 month low of $37.51 and a 12 month high of $52.10. The company has a market cap of $5,481.44, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 3.40 and a beta of 1.53.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The business had revenue of $883.38 million during the quarter, compared to analysts’ expectations of $871.20 million. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. sell-side analysts expect that Flowserve Corp will post 1.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be paid a $0.19 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.80%. Flowserve’s dividend payout ratio (DPR) is 58.92%.

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Flowserve Profile

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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