Gamco Investors INC. ET AL Sells 13,489 Shares of Flowserve Corporation $FLS

Key Points

• Gamco Investors INC. ET AL has reduced its stake in Flowserve Corporation by 1.0%, now holding approximately 1,306,620 shares worth around $63.8 million, making it the firm's 23rd largest holding.
• Flowserve recently reported $0.91 earnings per share for the last quarter, exceeding analysts' expectations of $0.78, although revenue slightly fell short at $1.19 billion.
• The company announced a quarterly dividend of $0.21 per share scheduled for payment on October 10th, representing an annualized yield of 1.6% and a payout ratio of 38.01%.

Gamco Investors INC. ET AL decreased its position in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,306,620 shares of the industrial products company's stock after selling 13,489 shares during the period. Flowserve accounts for about 0.7% of Gamco Investors INC. ET AL's investment portfolio, making the stock its 23rd largest position. Gamco Investors INC. ET AL owned about 1.00% of Flowserve worth $63,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. Vontobel Holding Ltd. grew its holdings in shares of Flowserve by 0.9% in the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company's stock valued at $1,378,000 after purchasing an additional 238 shares in the last quarter. KBC Group NV grew its holdings in shares of Flowserve by 4.8% in the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock valued at $277,000 after purchasing an additional 258 shares in the last quarter. Xponance Inc. grew its holdings in shares of Flowserve by 1.8% in the first quarter. Xponance Inc. now owns 15,407 shares of the industrial products company's stock valued at $752,000 after purchasing an additional 267 shares in the last quarter. Mariner LLC grew its holdings in shares of Flowserve by 4.5% in the fourth quarter. Mariner LLC now owns 6,887 shares of the industrial products company's stock valued at $396,000 after purchasing an additional 294 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Flowserve by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 36,800 shares of the industrial products company's stock valued at $1,797,000 after purchasing an additional 300 shares in the last quarter. 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 Flowserve 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their target price 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 raised their target price on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. Citigroup raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of Flowserve from $64.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One 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 company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $65.78.

Flowserve Trading Down 1.9%

NYSE FLS traded down $1.06 on Friday, hitting $53.66. 1,240,351 shares of the stock were exchanged, compared to its average volume of 1,482,098. 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 stock has a fifty day moving average price of $53.36 and a two-hundred day moving average price of $50.34. The firm has a market capitalization of $7.02 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.11 and a beta of 1.28. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share 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 the consensus estimate of $1.22 billion. Research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal 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 given 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 is Friday, September 26th. Flowserve's dividend payout ratio (DPR) is 38.01%.

Flowserve 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.