Flowserve Corporation $FLS Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its position in Flowserve Corporation (NYSE:FLS) by 8.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 42,105 shares of the industrial products company’s stock after selling 3,855 shares during the period. Inspire Investing LLC’s holdings in Flowserve were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. KPP Advisory Services LLC grew its position in Flowserve by 2.3% during the 2nd quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 222 shares during the period. Delta Investment Management LLC grew its position in Flowserve by 3.2% during the 1st quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company’s stock worth $374,000 after purchasing an additional 237 shares during the period. Vontobel Holding Ltd. grew its position in Flowserve by 0.9% during the 1st quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company’s stock worth $1,378,000 after purchasing an additional 238 shares during the period. KBC Group NV grew its position in Flowserve by 4.8% during the 1st quarter. KBC Group NV now owns 5,676 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 258 shares during the period. Finally, Xponance Inc. grew its position in Flowserve by 1.8% during the 1st quarter. Xponance Inc. now owns 15,407 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 267 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the sale, the insider owned 37,196 shares in the company, valued at approximately $1,979,571.12. This trade represents a 21.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.76% of the company’s stock.

Flowserve Trading Down 4.8%

FLS opened at $49.10 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. The company’s 50 day simple moving average is $53.97 and its two-hundred day simple moving average is $50.60. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. Analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.7%. Flowserve’s dividend payout ratio (DPR) is currently 38.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. The Goldman Sachs Group increased their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Royal Bank Of Canada increased their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $65.78.

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.