Flowserve Co. (NYSE:FLS) CEO Robert Scott Rowe Sells 42,269 Shares

Flowserve Co. (NYSE:FLS) CEO Robert Scott Rowe sold 42,269 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were 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 owns 407,243 shares in the company, valued at approximately $20,354,005.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Flowserve Stock Down 2.3 %

FLS stock opened at $48.83 on Friday. Flowserve Co. has a 52 week low of $32.49 and a 52 week high of $50.49. The business has a 50-day simple moving average of $47.22 and a 200 day simple moving average of $42.78. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The company has a market cap of $6.43 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. Sell-side analysts anticipate that Flowserve Co. will post 2.66 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, June 28th. Flowserve’s dividend payout ratio is 47.46%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho reiterated a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. Stifel Nicolaus boosted their price target on shares of Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. UBS Group lifted their target price on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com raised Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.55.

Institutional Trading of Flowserve

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in shares of Flowserve by 332.7% in the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company’s stock valued at $10,725,000 after buying an additional 207,346 shares during the period. HighTower Advisors LLC grew its stake in shares of Flowserve by 4.8% in the third quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company’s stock worth $1,936,000 after purchasing an additional 2,235 shares during the last quarter. Peregrine Capital Management LLC acquired a new stake in Flowserve in the fourth quarter valued at $6,031,000. Wakefield Asset Management LLLP acquired a new position in Flowserve during the 4th quarter worth about $866,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Flowserve in the 4th quarter valued at about $5,970,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Flowserve

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.