Hsbc Holdings PLC decreased its position in Flowserve Corporation (NYSE:FLS – Free Report) by 94.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,302 shares of the industrial products company’s stock after selling 96,616 shares during the period. Hsbc Holdings PLC’s holdings in Flowserve were worth $368,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in Flowserve by 20.1% during the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 162 shares in the last quarter. IFP Advisors Inc grew its stake in Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 163 shares in the last quarter. Inspire Advisors LLC grew its stake in Flowserve by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 165 shares in the last quarter. UMB Bank n.a. increased its position in shares of Flowserve by 8.1% during the 4th quarter. UMB Bank n.a. now owns 2,230 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 168 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Flowserve by 1.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,002 shares of the industrial products company’s stock worth $1,318,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.
Flowserve Stock Performance
Shares of FLS stock opened at $68.43 on Friday. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.56 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. The company has a 50-day simple moving average of $72.98 and a 200 day simple moving average of $76.89. Flowserve Corporation has a 52 week low of $48.71 and a 52 week high of $92.41.
Flowserve Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, June 26th. Flowserve’s dividend payout ratio is presently 32.59%.
Insider Buying and Selling
In other news, Director Brian D. Savoy purchased 1,000 shares of Flowserve stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $67,340. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on FLS shares. TD Cowen downgraded Flowserve from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Weiss Ratings downgraded shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Royal Bank Of Canada dropped their price target on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Citigroup reiterated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 price objective on shares of Flowserve in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $86.70.
Read Our Latest Research Report on FLS
Flowserve Company Profile
Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.
Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.
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