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

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

A number of other institutional investors also recently added to or reduced their stakes in FLS. State Street Corp boosted its stake in Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after buying an additional 37,132 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Flowserve by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after purchasing an additional 23,529 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Flowserve by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company’s stock worth $90,761,000 after purchasing an additional 4,414 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Flowserve by 34.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after purchasing an additional 422,141 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Flowserve by 197.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after acquiring an additional 606,416 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on FLS. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Mizuho raised their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. StockNews.com downgraded Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective for the company in a report on Monday, March 17th. Finally, The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Two equities research 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. According to data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Price Performance

NYSE:FLS opened at $50.65 on Friday. The company has a market cap of $6.67 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 52-week low of $43.66 and a 52-week high of $65.08. The stock’s 50-day simple moving average is $57.54 and its 200 day simple moving average is $56.25. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

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

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio 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.