Moody National Bank Trust Division Sells 496 Shares of Flowserve Co. (NYSE:FLS)

Moody National Bank Trust Division reduced its holdings in Flowserve Co. (NYSE:FLS) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,108 shares of the industrial products company’s stock after selling 496 shares during the period. Moody National Bank Trust Division’s holdings in Flowserve were worth $466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC acquired a new position in shares of Flowserve in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in Flowserve in the third quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in Flowserve in the third quarter valued at about $29,000. Wilmington Savings Fund Society FSB bought a new position in Flowserve during the third quarter worth about $29,000. Finally, Allworth Financial LP grew its position in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the period. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Up 0.7 %

FLS stock opened at $59.60 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The stock has a market capitalization of $7.83 billion, a P/E ratio of 29.51, a P/E/G ratio of 1.46 and a beta of 1.41. Flowserve Co. has a fifty-two week low of $39.37 and a fifty-two week high of $62.32. The business has a 50-day moving average of $59.67 and a 200-day moving average of $53.23.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned $0.50 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 annualized dividend and a yield of 1.41%. Flowserve’s payout ratio is currently 41.58%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FLS shares. Jefferies Financial Group assumed coverage on shares of Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. 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. Stifel Nicolaus raised their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Finally, Bank of America raised their price target on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.30.

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.