Flowserve Corporation (NYSE:FLS) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 18.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,372 shares of the industrial products company's stock after selling 7,678 shares during the period. Janney Montgomery Scott LLC's holdings in Flowserve were worth $1,679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in Flowserve by 6,084.1% during the 1st quarter. GAMMA Investing LLC now owns 111,746 shares of the industrial products company's stock worth $5,458,000 after buying an additional 109,939 shares during the last quarter. New York Life Investment Management LLC purchased a new position in shares of Flowserve in the 4th quarter valued at approximately $800,000. American Century Companies Inc. grew its stake in shares of Flowserve by 25.9% in the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock valued at $6,384,000 after purchasing an additional 22,850 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Flowserve in the fourth quarter valued at approximately $422,000. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Flowserve by 103.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock valued at $1,197,000 after buying an additional 10,557 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Trading Up 6.7%

Shares of NYSE FLS opened at $51.86 on Friday. The stock's 50 day moving average price is $47.76 and its two-hundred day moving average price is $52.59. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08. The stock has a market capitalization of $6.78 billion, a P/E ratio of 24.23, a PEG ratio of 1.11 and a beta of 1.26. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.13. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the firm earned $0.58 EPS. The business's quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, June 27th. Flowserve's payout ratio is currently 39.25%.

Analyst Ratings Changes

A number of analysts recently weighed in on FLS shares. Royal Bank Of Canada lifted their price target on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Stifel Nicolaus lifted their price objective on Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Citigroup lowered their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird decreased their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $63.00.

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.

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