Flowserve Co. (NYSE:FLS) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division reduced its stake in Flowserve Co. (NYSE:FLSGet Rating) by 55.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,606 shares of the industrial products company’s stock after selling 9,450 shares during the period. Moody National Bank Trust Division’s holdings in Flowserve were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in Flowserve in the first quarter valued at approximately $228,000. Keeley Teton Advisors LLC acquired a new position in Flowserve in the first quarter valued at approximately $819,000. Gamco Investors INC. ET AL boosted its stake in Flowserve by 0.6% in the first quarter. Gamco Investors INC. ET AL now owns 1,559,199 shares of the industrial products company’s stock valued at $55,975,000 after acquiring an additional 9,781 shares during the period. Walleye Trading LLC acquired a new position in Flowserve in the first quarter valued at approximately $252,000. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in Flowserve in the first quarter valued at approximately $2,325,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Shares of NYSE:FLS opened at $26.76 on Wednesday. Flowserve Co. has a 12 month low of $26.45 and a 12 month high of $38.39. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 1.23 and a beta of 1.59. The stock’s 50 day moving average price is $31.33 and its 200 day moving average price is $31.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.09 and a quick ratio of 1.40.

Flowserve (NYSE:FLSGet Rating) last announced its earnings results on Wednesday, July 27th. The industrial products company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. Flowserve had a return on equity of 8.12% and a net margin of 2.74%. The firm had revenue of $882.22 million for the quarter, compared to analysts’ expectations of $886.53 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Flowserve Co. will post 1.37 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.80 annualized dividend and a yield of 2.99%. Flowserve’s payout ratio is 109.59%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLS. Citigroup cut their price target on Flowserve from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 15th. Royal Bank of Canada cut their price target on Flowserve from $33.00 to $31.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 14th. Bank of America raised Flowserve from an “underperform” rating to a “neutral” rating and set a $31.00 price target on the stock in a report on Monday, July 11th. Finally, Credit Suisse Group cut Flowserve from an “outperform” rating to a “neutral” rating and cut their price target for the company from $38.00 to $31.00 in a report on Thursday, September 15th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.50.

Flowserve Profile

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Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket 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.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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