Flowserve Co. (NYSE:FLS) CEO Sells $2,112,604.62 in Stock

Flowserve Co. (NYSE:FLSGet Free Report) CEO Robert Scott Rowe sold 42,269 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the completion of the sale, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Flowserve Price Performance

NYSE:FLS opened at $49.51 on Friday. The firm’s fifty day moving average is $47.33 and its two-hundred day moving average is $42.86. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 1.26 and a beta of 1.42. Flowserve Co. has a one year low of $32.49 and a one year high of $50.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88.

Flowserve (NYSE:FLSGet Free Report) last posted its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. Flowserve’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Research analysts expect that Flowserve Co. will post 2.66 EPS for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, June 28th. Flowserve’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stifel Nicolaus increased their price target on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Mizuho reaffirmed a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Citigroup boosted their target price on shares of Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Bank of America raised their price target on shares of Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.55.

View Our Latest Stock Analysis on Flowserve

Institutional Trading of Flowserve

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Flowserve by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after acquiring an additional 144,704 shares during the period. Wellington Management Group LLP raised its holdings in Flowserve by 2.5% in the 3rd quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after purchasing an additional 246,636 shares during the period. Dimensional Fund Advisors LP boosted its position in Flowserve by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock worth $82,595,000 after purchasing an additional 157,125 shares in the last quarter. Norges Bank acquired a new stake in Flowserve in the fourth quarter valued at approximately $59,261,000. Finally, Gabelli Funds LLC increased its position in shares of Flowserve by 0.3% in the third quarter. Gabelli Funds LLC now owns 1,296,034 shares of the industrial products company’s stock valued at $51,543,000 after buying an additional 3,540 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Company Profile

(Get Free Report)

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.

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