Flowserve Co. (NYSE:FLS) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its stake in Flowserve Co. (NYSE:FLS) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 155,063 shares of the industrial products company’s stock after selling 14,378 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.12% of Flowserve worth $8,919,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. KPP Advisory Services LLC grew its position in Flowserve by 3.2% in the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock worth $364,000 after purchasing an additional 215 shares during the last quarter. HighTower Advisors LLC lifted its stake in Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after purchasing an additional 215 shares during the last quarter. Savant Capital LLC lifted its position in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after acquiring an additional 251 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 252 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after acquiring an additional 277 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

Shares of FLS opened at $62.25 on Tuesday. Flowserve Co. has a 12 month low of $41.60 and a 12 month high of $65.08. The company’s fifty day moving average is $60.75 and its 200-day moving average is $55.55. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.21 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.35%. Flowserve’s payout ratio is presently 41.58%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup cut their target price 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. TD Cowen increased their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Finally, Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

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.