Flowserve Corporation $FLS Shares Sold by Cwm LLC

Cwm LLC decreased its stake in shares of Flowserve Corporation (NYSE:FLS) by 7.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,839 shares of the industrial products company’s stock after selling 3,668 shares during the quarter. Cwm LLC’s holdings in Flowserve were worth $2,400,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. KPP Advisory Services LLC lifted its position in Flowserve by 2.3% during the second quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock worth $514,000 after buying an additional 222 shares in the last quarter. Delta Investment Management LLC lifted its position in Flowserve by 3.2% during the first quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company’s stock worth $374,000 after buying an additional 237 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Flowserve by 0.9% during the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company’s stock worth $1,378,000 after buying an additional 238 shares in the last quarter. KBC Group NV lifted its position in Flowserve by 4.8% during the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company’s stock worth $277,000 after buying an additional 258 shares in the last quarter. Finally, Xponance Inc. lifted its position in Flowserve by 1.8% during the first quarter. Xponance Inc. now owns 15,407 shares of the industrial products company’s stock worth $752,000 after buying an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insider Buying and Selling at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value 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. The trade was a 21.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.76% of the company’s stock.

Flowserve Price Performance

FLS stock opened at $50.56 on Friday. 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 has a fifty day moving average of $53.70 and a two-hundred day moving average of $50.64. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.03 and a beta of 1.27.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.22 billion. As a group, research analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.7%. Flowserve’s payout ratio is presently 38.01%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLS. Citigroup lifted their price objective on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Royal Bank Of Canada raised their target price on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $65.88.

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.