Flowserve Corporation $FLS Shares Sold by Cwm LLC

Cwm LLC cut its position in Flowserve Corporation (NYSE:FLS) by 7.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,839 shares of the industrial products company’s stock after selling 3,668 shares during the period. Cwm LLC’s holdings in Flowserve were worth $2,400,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. TD Private Client Wealth LLC acquired a new stake in Flowserve during the second quarter worth about $25,000. Hilltop National Bank acquired a new stake in Flowserve during the second quarter worth about $31,000. IFP Advisors Inc grew its holdings in Flowserve by 1,289.6% during the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 619 shares during the period. Parallel Advisors LLC grew its holdings in Flowserve by 74.5% during the second quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 344 shares during the period. Finally, Signaturefd LLC grew its holdings in Flowserve by 71.5% during the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 429 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Performance

Shares of FLS stock opened at $50.56 on Friday. The company has a market capitalization of $6.61 billion, a P/E ratio of 22.88, a P/E/G ratio of 1.03 and a beta of 1.27. The business’s 50 day moving average is $53.70 and its two-hundred day moving average is $50.64. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $65.08.

Flowserve (NYSE:FLS) last issued 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. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. Analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared 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 currently 38.01%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup raised their target price on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Stifel Nicolaus increased their target price on shares of Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Royal Bank Of Canada increased their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group increased their price target on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $65.88.

Insider Activity

In other news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.76% of the stock is owned by corporate 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.