Flowserve Co. (NYSE:FLS) Stock Holdings Decreased by Veracity Capital LLC

Veracity Capital LLC reduced its position in Flowserve Co. (NYSE:FLS) by 25.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 12,636 shares of the industrial products company’s stock after selling 4,306 shares during the quarter. Veracity Capital LLC’s holdings in Flowserve were worth $577,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FLS. Envestnet Asset Management Inc. increased its position in shares of Flowserve by 227.2% in the third quarter. Envestnet Asset Management Inc. now owns 199,476 shares of the industrial products company’s stock worth $7,933,000 after acquiring an additional 138,517 shares in the last quarter. Invesco Ltd. increased its position in shares of Flowserve by 57.6% in the third quarter. Invesco Ltd. now owns 363,270 shares of the industrial products company’s stock worth $14,447,000 after acquiring an additional 132,708 shares in the last quarter. Stifel Financial Corp increased its position in shares of Flowserve by 38.0% in the third quarter. Stifel Financial Corp now owns 89,606 shares of the industrial products company’s stock worth $3,563,000 after acquiring an additional 24,678 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Flowserve by 6.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 7,240 shares of the industrial products company’s stock valued at $288,000 after purchasing an additional 409 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Flowserve by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company’s stock valued at $2,285,000 after purchasing an additional 290 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Performance

NYSE:FLS traded up $0.02 during trading hours on Thursday, hitting $47.53. 508,595 shares of the company traded hands, compared to its average volume of 903,151. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.23 and a beta of 1.42. Flowserve Co. has a twelve month low of $35.31 and a twelve month high of $50.49. The firm has a 50-day moving average of $48.33 and a 200 day moving average of $44.81. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58.

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

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, June 28th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Mizuho reaffirmed a “buy” rating and set a $53.00 price objective (up from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Bank of America boosted their price objective on shares of Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Stifel Nicolaus boosted their price objective on shares of Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.55.

Insider Buying and Selling at Flowserve

In other news, CEO Robert Scott Rowe sold 42,269 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.72% 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.