Flowserve Corporation $FLS Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Flowserve Corporation by 40.9%, selling 45,433 shares and now holding approximately 65,561 shares valued at $3.2 million.
• Flowserve recently reported $1.19 billion in revenue for the last quarter, exceeding EPS estimates of $0.78 by achieving $0.91 EPS.
• The company announced a quarterly dividend of $0.21 per share, with a dividend yield of 1.6%, scheduled to be paid on October 10th.

American Century Companies Inc. lessened its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 40.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,561 shares of the industrial products company's stock after selling 45,433 shares during the period. American Century Companies Inc. owned 0.05% of Flowserve worth $3,202,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FLS. Park Square Financial Group LLC bought a new stake in shares of Flowserve during the 4th quarter valued at about $33,000. Colonial Trust Co SC boosted its stake in Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after purchasing an additional 478 shares during the period. Signaturefd LLC boosted its stake in Flowserve by 71.5% in the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock worth $50,000 after purchasing an additional 429 shares during the period. Strengthening Families & Communities LLC purchased a new stake in shares of Flowserve during the 1st quarter worth approximately $53,000. Finally, Sunbelt Securities Inc. raised its holdings in shares of Flowserve by 1,577.1% during the 4th quarter. Sunbelt Securities Inc. now owns 1,392 shares of the industrial products company's stock worth $80,000 after acquiring an additional 1,309 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Insider Buying and Selling at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the transaction, the insider directly owned 37,196 shares in the company, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Flowserve Price Performance

Shares of Flowserve stock traded up $0.50 on Thursday, reaching $53.98. The company's stock had a trading volume of 375,190 shares, compared to its average volume of 2,020,308. The company has a market capitalization of $7.06 billion, a P/E ratio of 24.42, a PEG ratio of 1.10 and a beta of 1.29. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08. The stock has a 50-day moving average price of $53.72 and a 200-day moving average price of $50.24. 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 (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.78 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. Analysts expect that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

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

Analysts Set New Price Targets

FLS has been the topic of several recent research reports. Citigroup increased their price target on Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen upgraded Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group raised their price target on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada raised their price objective on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus raised their price target on Flowserve from $63.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $65.78.

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.