State of Wyoming Sells 9,855 Shares of Flowserve Corporation $FLS

State of Wyoming reduced its holdings in Flowserve Corporation (NYSE:FLS) by 73.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 SEC.

A number of other institutional investors have also made changes to their positions in FLS. Northwestern Mutual Wealth Management Co. increased its position in shares of Flowserve by 1,300.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock valued at $14,967,000 after purchasing an additional 189,165 shares during the period. Bullseye Asset Management LLC lifted its position in Flowserve by 54.5% in the fourth quarter. Bullseye Asset Management LLC now owns 85,000 shares of the industrial products company’s stock worth $5,897,000 after purchasing an additional 30,000 shares during the period. William Blair Investment Management LLC boosted its stake in Flowserve by 142.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company’s stock worth $72,720,000 after buying an additional 615,769 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in Flowserve by 27.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 72,950 shares of the industrial products company’s stock valued at $5,061,000 after buying an additional 15,850 shares during the period. Finally, Horizon Investments LLC acquired a new position in shares of Flowserve in the 4th quarter valued at $4,826,000. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

NYSE:FLS opened at $73.46 on Wednesday. The firm has a market cap of $9.39 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23. Flowserve Corporation has a 12 month low of $48.71 and a 12 month high of $92.41. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $73.43 and its two-hundred day moving average price is $76.90.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 26th. Flowserve’s dividend payout ratio (DPR) is currently 32.59%.

Insider Transactions at Flowserve

In other Flowserve news, Director Brian D. Savoy acquired 1,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the transaction, the director owned 1,000 shares in the company, valued at $67,340. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 target price (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Weiss Ratings downgraded Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Citigroup reiterated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Wall Street Zen cut Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, TD Cowen downgraded Flowserve from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $70.00 in a research report on Wednesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.70.

About Flowserve

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.