Flowserve Corporation $FLS Shares Sold by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. has reduced its holdings in Flowserve Corporation by 59.4%, now owning 19,870 shares worth approximately $1,040,000.
• Insider Kirk Wilson sold 10,000 shares at an average price of $53.22, reducing his ownership by 21.19%.
• Flowserve announced a quarterly dividend of $0.21 per share, with a dividend yield of 1.6%, to be paid on October 10th.

Lecap Asset Management Ltd. cut its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 59.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,870 shares of the industrial products company's stock after selling 29,045 shares during the period. Lecap Asset Management Ltd.'s holdings in Flowserve were worth $1,040,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC purchased a new stake in shares of Flowserve during the second quarter valued at $25,000. Parallel Advisors LLC grew its holdings in shares of Flowserve by 74.5% during the second quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company's stock valued at $42,000 after buying an additional 344 shares during the last quarter. Signaturefd LLC grew its holdings 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 valued at $50,000 after buying an additional 429 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Flowserve by 47.2% during the first quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company's stock valued at $53,000 after buying an additional 349 shares during the last quarter. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of Flowserve during the first quarter valued at $53,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the sale, the insider directly owned 37,196 shares of the company's stock, valued at $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by insiders.

Flowserve Trading Up 0.2%

FLS stock opened at $52.85 on Friday. The company's 50-day simple moving average is $54.39 and its 200-day simple moving average is $50.59. 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 52-week low of $37.34 and a 52-week high of $65.08. The firm has a market cap of $6.91 billion, a P/E ratio of 23.91, a PEG ratio of 1.08 and a beta of 1.27.

Flowserve (NYSE:FLS - Get Free Report) last posted 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 net margin of 6.28% and a return on equity of 18.25%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. As a group, equities analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve's dividend payout ratio is presently 38.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FLS shares. Stifel Nicolaus boosted their price objective on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 31st. The Goldman Sachs Group upped their price target on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Citigroup upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen lowered shares of Flowserve from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada upped their price target on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Flowserve currently has a consensus rating of "Buy" and a consensus price target 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.

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