Flowserve Corporation (NYSE:FLS) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in Flowserve Corporation (NYSE:FLS) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,056 shares of the industrial products company’s stock after selling 2,591 shares during the quarter. Amalgamated Bank’s holdings in Flowserve were worth $2,933,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FLS. Headlands Technologies LLC boosted its position in shares of Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 479 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in Flowserve during the 4th quarter worth about $33,000. Colonial Trust Co SC lifted its position in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 478 shares during the period. True Wealth Design LLC lifted its position in Flowserve by 80.1% during the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 394 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 595 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

Shares of Flowserve stock opened at $55.29 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08. The business has a 50-day moving average price of $49.11 and a 200 day moving average price of $52.30. The firm has a market cap of $7.23 billion, a PE ratio of 25.84, a P/E/G ratio of 1.27 and a beta of 1.25.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned $0.58 EPS. Flowserve’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.52%. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

Wall Street Analyst Weigh In

FLS has been the subject of a number of research reports. Citigroup lowered their price target on Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lifted their price target on Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Robert W. Baird lowered their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 6th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Flowserve has an average rating of “Buy” and a consensus price target of $63.00.

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.