Flowserve Corporation (NYSE:FLS) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,578 shares of the industrial products company's stock after selling 9,368 shares during the period. SG Americas Securities LLC owned 0.06% of Flowserve worth $3,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Flowserve by 6,084.1% during the first 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 in the last quarter. New York Life Investment Management LLC bought a new stake in shares of Flowserve during the 4th quarter worth about $800,000. American Century Companies Inc. boosted its holdings in shares of Flowserve by 25.9% during the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock worth $6,384,000 after acquiring an additional 22,850 shares during the period. New Age Alpha Advisors LLC bought a new position in Flowserve during the 4th quarter worth $422,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Flowserve by 103.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock worth $1,197,000 after purchasing an additional 10,557 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Shares of NYSE FLS traded down $0.91 during trading on Tuesday, hitting $46.42. The company had a trading volume of 2,047,942 shares, compared to its average volume of 1,416,451. The stock has a fifty day simple moving average of $47.04 and a two-hundred day simple moving average of $53.20. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 1.09 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 Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08.

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

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.81%. Flowserve's dividend payout ratio is currently 39.25%.

Analyst Upgrades and Downgrades

FLS has been the topic of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Citigroup reduced their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Robert W. Baird decreased their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Mizuho set a $60.00 price objective on shares of Flowserve in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price 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.