Insider Selling: Flowserve Corporation (NYSE:FLS) Insider Sells 10,000 Shares of Stock

Key Points

• Insider Kirk Wilson sold 10,000 shares of Flowserve Corporation's stock on August 12th at an average price of $53.22, resulting in a total transaction of $532,200.
• Flowserve's quarterly earnings reported $0.91 earnings per share, exceeding analysts' expectations, with revenue totaling $1.19 billion, which was slightly below forecasts.
• The company also announced a quarterly dividend of $0.21 per share, reflecting an annualized dividend yield of 1.6%.

Flowserve Corporation (NYSE:FLS - Get Free Report) insider Kirk Wilson sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the transaction, the insider directly owned 37,196 shares of the company's stock, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kirk Wilson also recently made the following trade(s):

• On Friday, August 8th, Kirk Wilson sold 10,000 shares of Flowserve stock. The shares were sold at an average price of $52.58, for a total transaction of $525,800.00.

Flowserve Stock Performance

Shares of FLS stock traded up $1.02 during trading hours on Tuesday, reaching $53.20. The stock had a trading volume of 1,678,689 shares, compared to its average volume of 2,103,672. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08. The firm has a 50-day simple moving average of $51.69 and a 200-day simple moving average of $51.14. The firm has a market capitalization of $6.96 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.22 billion. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. As a group, equities analysts forecast that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.6%. Flowserve's dividend payout ratio (DPR) is presently 38.01%.

Hedge Funds Weigh In On Flowserve

Several large investors have recently bought and sold shares of FLS. TD Private Client Wealth LLC bought a new position in shares of Flowserve during the 2nd quarter valued at about $25,000. First Horizon Advisors Inc. bought a new position in shares of Flowserve during the 2nd quarter valued at about $26,000. Park Square Financial Group LLC bought a new position in shares of Flowserve during the 4th quarter valued at about $33,000. Colonial Trust Co SC boosted its position in shares of Flowserve by 415.7% during the 4th 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 in the last quarter. Finally, Hilltop National Bank bought a new position in shares of Flowserve during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 93.93% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FLS shares. Robert W. Baird dropped their price target 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. Mizuho set a $60.00 target price on shares of Flowserve in a research note on Friday, May 16th. Stifel Nicolaus increased their price objective on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Citigroup increased their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $65.78.

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.

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