FCG Investment Co Invests $1.58 Million in Flowserve Corporation $FLS

Key Points

• FCG Investment Co acquired 32,378 shares of Flowserve Corporation, worth approximately $1,581,000, marking a new investment in the industrial products company.
• Company insiders, including Kirk Wilson, sold a total of 10,000 shares recently, reducing their ownership and raising questions about insider confidence.
• Research analysts maintain a strong outlook for Flowserve, with a consensus price target of $65.78 and most analysts rating the stock as a "Buy".

FCG Investment Co acquired a new position in shares of Flowserve Corporation (NYSE:FLS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,378 shares of the industrial products company's stock, valued at approximately $1,581,000.

Several other institutional investors and hedge funds also recently modified their holdings of FLS. Park Square Financial Group LLC acquired a new position in shares of Flowserve during the fourth quarter worth about $33,000. Colonial Trust Co SC boosted its position in shares of Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after buying an additional 478 shares during the period. Signaturefd LLC boosted its position in shares of Flowserve by 71.5% during the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock worth $50,000 after buying an additional 429 shares during the period. True Wealth Design LLC boosted its position in shares of Flowserve by 80.1% during the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after buying an additional 394 shares during the period. Finally, Strengthening Families & Communities LLC acquired a new position in shares of Flowserve during the first quarter worth about $53,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Royal Bank Of Canada increased their price target on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus increased their price target on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Robert W. Baird reduced their price target on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Mizuho set a $60.00 price target on Flowserve in a research report on Friday, May 16th. Finally, The Goldman Sachs Group increased their price target on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $65.78.

Flowserve Price Performance

Shares of FLS stock traded down $0.2130 during trading hours on Thursday, reaching $51.9370. The company's stock had a trading volume of 787,158 shares, compared to its average volume of 2,060,848. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.09 and a beta of 1.28. The firm's 50 day simple moving average is $52.38 and its 200-day simple moving average is $50.87.

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

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, September 26th. Flowserve's payout ratio is presently 38.01%.

Insider Buying and Selling

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

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.