Flowserve Corporation (NYSE:FLS) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in Flowserve Corporation (NYSE:FLS) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,409,828 shares of the industrial products company’s stock after selling 67,380 shares during the quarter. Vanguard Group Inc. owned 0.10% of Flowserve worth $654,936,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in FLS. Driehaus Capital Management LLC grew its stake in Flowserve by 307.1% in the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company’s stock valued at $108,651,000 after acquiring an additional 1,424,948 shares during the period. Point72 Asset Management L.P. grew its stake in Flowserve by 57.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company’s stock valued at $82,859,000 after acquiring an additional 527,250 shares during the period. Moore Capital Management LP acquired a new stake in Flowserve in the 4th quarter valued at $23,102,000. Marshall Wace LLP grew its stake in Flowserve by 1,625.3% in the 4th quarter. Marshall Wace LLP now owns 354,126 shares of the industrial products company’s stock valued at $20,369,000 after acquiring an additional 333,600 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in Flowserve by 172.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 508,200 shares of the industrial products company’s stock valued at $29,232,000 after acquiring an additional 321,600 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Up 1.4%

NYSE FLS opened at $53.93 on Thursday. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $65.08. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $51.88 and its 200-day simple moving average is $51.17. The firm has a market cap of $7.05 billion, a PE ratio of 24.40, a P/E/G ratio of 1.11 and a beta of 1.28.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.78 by $0.13. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. As a group, equities analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, June 27th. Flowserve’s payout ratio is currently 38.01%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stifel Nicolaus raised their price objective on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Citigroup raised their price objective on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 14th. Mizuho set a $60.00 price objective on Flowserve in a report on Friday, May 16th. Royal Bank Of Canada raised their price objective on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $65.78.

Insider Activity at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the sale, the insider directly owned 37,196 shares of the company’s stock, valued at approximately $1,979,571.12. This trade represents a 21.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

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.