Mutual of America Capital Management LLC Sells 2,604 Shares of Flowserve Corporation $FLS

Mutual of America Capital Management LLC reduced its position in Flowserve Corporation (NYSE:FLS) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 65,012 shares of the industrial products company’s stock after selling 2,604 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Flowserve were worth $3,403,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FLS. GAMMA Investing LLC boosted its holdings in shares of Flowserve by 26.6% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company’s stock valued at $112,000 after buying an additional 481 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Flowserve by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 15,393 shares of the industrial products company’s stock valued at $751,000 after buying an additional 415 shares in the last quarter. KPP Advisory Services LLC boosted its holdings in shares of Flowserve by 33.8% in the 1st quarter. KPP Advisory Services LLC now owns 9,587 shares of the industrial products company’s stock valued at $468,000 after buying an additional 2,423 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Flowserve by 453.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company’s stock valued at $8,402,000 after buying an additional 139,939 shares in the last quarter. Finally, Tsfg LLC bought a new stake in shares of Flowserve in the 1st quarter valued at about $70,000. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

FLS opened at $52.73 on Friday. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $65.08. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $6.90 billion, a PE ratio of 23.86, a P/E/G ratio of 1.06 and a beta of 1.27. The firm has a 50 day moving average of $53.62 and a two-hundred day moving average of $50.87.

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

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. Flowserve’s dividend payout ratio (DPR) is currently 38.01%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FLS. Stifel Nicolaus raised their price target on shares of Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Citigroup lifted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Zacks Research cut shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group lifted their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.88.

Insider Buying and Selling at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the transaction, the insider directly owned 37,196 shares of the company’s stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

Flowserve Company 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.