Teza Capital Management LLC Trims Holdings in Flowserve Corporation $FLS

Key Points

• Teza Capital Management LLC has reduced its stake in Flowserve Corporation by 79.9% in the first quarter, now holding just 8,584 shares valued at approximately $419,000.
• Insider Kirk Wilson sold 10,000 shares of Flowserve at an average price of $53.22, decreasing his ownership by 21.19% to 37,196 shares.
• Flowserve recently declared a quarterly dividend of $0.21 per share, with a total annualized yield of approximately 1.5%.

Teza Capital Management LLC trimmed its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 79.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,584 shares of the industrial products company's stock after selling 34,208 shares during the quarter. Teza Capital Management LLC's holdings in Flowserve were worth $419,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in Flowserve in the fourth quarter worth $33,000. Colonial Trust Co SC increased its position in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after buying an additional 478 shares during the last quarter. Signaturefd LLC increased its position in Flowserve by 71.5% in the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock worth $50,000 after buying an additional 429 shares during the last quarter. Strengthening Families & Communities LLC purchased a new stake in Flowserve in the first quarter worth $53,000. Finally, Brooklyn Investment Group grew its position in shares of Flowserve by 47.2% in the first quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 349 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flowserve

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

Flowserve Price Performance

FLS stock traded down $0.36 during mid-day trading on Friday, hitting $56.30. 1,480,516 shares of the stock were exchanged, compared to its average volume of 1,479,548. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. The business has a fifty day moving average price of $54.02 and a 200 day moving average price of $50.09. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $65.08. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.16 and a beta of 1.29.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly 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 return on equity of 18.25% and a net margin of 6.28%.The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.22 billion. On average, sell-side analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve's payout ratio is 38.01%.

Wall Street Analyst Weigh In

FLS has been the subject of several recent research reports. Mizuho set a $60.00 price target on Flowserve in a research report on Friday, May 16th. Stifel Nicolaus lifted their price target on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen cut Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. The Goldman Sachs Group lifted their price target on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada lifted their price target on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $65.78.

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.