AlphaQuest LLC Sells 22,933 Shares of Flowserve Corporation $FLS

Key Points

• AlphaQuest LLC has reduced its holdings in Flowserve Corporation by 79.1%, selling 22,933 shares, and now owns 6,070 shares valued at $296,000.
• Insider Kirk Wilson sold 10,000 shares of Flowserve stock, reducing his ownership by 21.19%, with a total transaction value of $532,200.
• Flowserve recently declared a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 26th, representing an annual yield of 1.5%.

AlphaQuest LLC cut its holdings in Flowserve Corporation (NYSE:FLS - Free Report) by 79.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,070 shares of the industrial products company's stock after selling 22,933 shares during the period. AlphaQuest LLC's holdings in Flowserve were worth $296,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC bought a new position in Flowserve during the fourth quarter valued at about $33,000. Colonial Trust Co SC raised its position in shares of Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 478 shares during the last quarter. Signaturefd LLC raised its position in shares of Flowserve by 71.5% during the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 429 shares during the last quarter. Strengthening Families & Communities LLC bought a new stake in shares of Flowserve during the 1st quarter valued at $53,000. Finally, Brooklyn Investment Group raised its position in shares of Flowserve by 47.2% during the 1st quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 349 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FLS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada upped their price objective on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus upped their price objective on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Citigroup upped their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Flowserve presently has an average rating of "Buy" and a consensus target price of $65.78.

Flowserve Stock Down 1.9%

NYSE FLS traded down $1.06 on Monday, reaching $53.66. The company had a trading volume of 1,240,351 shares, compared to its average volume of 1,379,628. The company's fifty day moving average is $53.36 and its 200-day moving average is $50.26. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.11 and a beta of 1.29.

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

Flowserve Dividend Announcement

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

Insider Transactions at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the firm's stock in a transaction dated 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.72% 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.