Flowserve Co. (NYSE:FLS) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL cut its stake in Flowserve Co. (NYSE:FLSFree Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,477,199 shares of the industrial products company’s stock after selling 47,549 shares during the period. Flowserve accounts for approximately 0.6% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 29th largest holding. Gamco Investors INC. ET AL owned 1.13% of Flowserve worth $60,890,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FLS. Contravisory Investment Management Inc. bought a new stake in shares of Flowserve during the 4th quarter worth about $26,000. TFO Wealth Partners LLC boosted its stake in Flowserve by 14,663.6% during the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Flowserve in the 3rd quarter worth $107,000. Advisory Services Network LLC bought a new stake in shares of Flowserve in the 4th quarter worth $178,000. Finally, Blair William & Co. IL acquired a new stake in shares of Flowserve in the third quarter valued at $211,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Down 2.1 %

FLS stock traded down $1.01 during trading hours on Thursday, hitting $47.37. The company’s stock had a trading volume of 192,083 shares, compared to its average volume of 1,075,993. The company has a market capitalization of $6.24 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The stock has a 50 day moving average price of $48.03 and a two-hundred day moving average price of $43.85. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. Flowserve Co. has a 12 month low of $35.23 and a 12 month high of $50.49.

Flowserve (NYSE:FLSGet Free Report) last posted its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. On average, equities research analysts expect that Flowserve Co. will post 2.66 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, June 28th. Flowserve’s dividend payout ratio is currently 47.46%.

Analyst Ratings Changes

FLS has been the topic of several recent research reports. TD Cowen lifted their price target on shares of Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Stifel Nicolaus upped their target price on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Bank of America lifted their price target on Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Robert W. Baird lifted their target price on shares of Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.55.

Read Our Latest Analysis on Flowserve

Insider Buying and Selling

In other news, CEO Robert Scott Rowe sold 42,269 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the sale, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

About Flowserve

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.