State of Wyoming Has $265,000 Stake in Flowserve Corporation $FLS

State of Wyoming trimmed its stake in Flowserve Corporation (NYSE:FLS) by 73.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,603 shares of the industrial products company’s stock after selling 9,855 shares during the quarter. State of Wyoming’s holdings in Flowserve were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Comprehensive Money Management Services LLC increased its stake in Flowserve by 1.5% in the 1st quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company’s stock valued at $625,000 after buying an additional 125 shares during the period. BTC Capital Management Inc. boosted its stake in shares of Flowserve by 2.5% during the 1st quarter. BTC Capital Management Inc. now owns 6,531 shares of the industrial products company’s stock valued at $480,000 after buying an additional 162 shares during the period. Parallel Advisors LLC grew its holdings in shares of Flowserve by 20.1% during the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 162 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Flowserve by 24.4% during the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 163 shares in the last quarter. Finally, Inspire Advisors LLC increased its stake in shares of Flowserve by 3.7% in the fourth quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company’s stock worth $324,000 after acquiring an additional 165 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

NYSE FLS opened at $73.46 on Wednesday. Flowserve Corporation has a fifty-two week low of $48.71 and a fifty-two week high of $92.41. The stock’s 50-day moving average is $73.43 and its two-hundred day moving average is $76.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63. The firm has a market cap of $9.39 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.17 billion. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The firm’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 EPS. On average, analysts anticipate that Flowserve Corporation will post 4.04 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, June 26th. Flowserve’s payout ratio is 32.59%.

Wall Street Analyst Weigh In

FLS has been the subject of several recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Flowserve in a report on Tuesday, March 31st. Royal Bank Of Canada dropped their target price on Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings downgraded Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen downgraded Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.70.

Insider Transactions at Flowserve

In related news, Director Brian D. Savoy bought 1,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $67.34 per share, with a total value of $67,340.00. Following the completion of the transaction, the director directly owned 1,000 shares of the company’s stock, valued at $67,340. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by insiders.

Flowserve Company Profile

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.