Trexquant Investment LP Has $9.41 Million Stake in Flowserve Corporation $FLS

Key Points

• Trexquant Investment LP has reduced its stake in Flowserve Corporation by 26.6%, now owning approximately 0.15% of the company with a total value of $9.41 million.
• Flowserve recently announced a quarterly dividend of $0.21 per share, translating to an annual dividend yield of 1.6%.
• Analysts have given Flowserve a strong outlook, with price target increases from multiple firms, indicating continued confidence in the company's performance.

Trexquant Investment LP cut its holdings in Flowserve Corporation (NYSE:FLS - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,691 shares of the industrial products company's stock after selling 69,999 shares during the quarter. Trexquant Investment LP owned about 0.15% of Flowserve worth $9,411,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Park Square Financial Group LLC acquired a new position in Flowserve during the fourth quarter worth $33,000. Colonial Trust Co SC raised its position in shares of Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 478 shares during the period. Signaturefd LLC raised its position in shares of Flowserve by 71.5% in the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 429 shares during the period. Brooklyn Investment Group raised 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 during the period. Finally, Strengthening Families & Communities LLC bought a new position in shares of Flowserve in the first quarter valued at approximately $53,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Performance

Shares of NYSE FLS traded down $0.06 during trading hours on Wednesday, reaching $53.46. The stock had a trading volume of 840,829 shares, compared to its average volume of 2,026,810. The business's fifty day moving average is $53.62 and its two-hundred day moving average is $50.22. 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 company has a market cap of $6.99 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.10 and a beta of 1.29. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. As a group, research analysts expect that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 1.6%. Flowserve's payout ratio is currently 38.01%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Mizuho set a $60.00 price objective on Flowserve in a research report on Friday, May 16th. Stifel Nicolaus raised their price objective on shares of Flowserve from $63.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Citigroup raised their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Flowserve presently has an average rating of "Buy" and a consensus price target of $65.78.

Insider Buying and Selling

In related news, insider Kirk Wilson sold 10,000 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the sale, the insider owned 37,196 shares of the company's stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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.