Thrivent Financial for Lutherans Sells 459,587 Shares of Flowserve Co. (NYSE:FLS)

Thrivent Financial for Lutherans lessened its holdings in Flowserve Co. (NYSE:FLS) by 17.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,143,941 shares of the industrial products company’s stock after selling 459,587 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.63% of Flowserve worth $123,333,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. grew its holdings in shares of Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after purchasing an additional 606,416 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after acquiring an additional 422,141 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Flowserve during the fourth quarter worth approximately $14,546,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Flowserve by 66.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company’s stock worth $31,930,000 after acquiring an additional 220,805 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Flowserve by 28.5% during the fourth quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company’s stock valued at $42,876,000 after acquiring an additional 165,449 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

FLS has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a research note on Monday. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup lowered their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Up 2.8 %

Shares of Flowserve stock opened at $50.38 on Tuesday. 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 company has a market cap of $6.64 billion, a P/E ratio of 23.54, a PEG ratio of 1.35 and a beta of 1.43. The firm’s 50 day moving average price is $58.19 and its 200-day moving average price is $56.31. Flowserve Co. has a 52-week low of $43.66 and a 52-week high of $65.08.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, sell-side analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

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.