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Kirk Wilson Sells 10,000 Shares of Flowserve Corporation (NYSE:FLS) Stock

Flowserve logo with Industrials background

Key Points

  • Kirk Wilson, an insider at Flowserve Corporation, sold 10,000 shares of stock on August 8th at an average price of $52.58, bringing the total transaction to $525,800.
  • Flowserve reported $0.91 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $0.78, while revenue was noted at $1.19 billion.
  • The company declared a quarterly dividend of $0.21, representing an annualized yield of 1.6%, and its dividend payout ratio stands at 38.01%.
  • Looking to export and analyze Flowserve data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

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 Friday, August 8th. The stock was sold at an average price of $52.58, for a total transaction of $525,800.00. Following the sale, the insider directly owned 47,196 shares in the company, valued at $2,481,565.68. The trade was a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Flowserve Stock Performance

Shares of FLS stock traded up $0.02 on Monday, hitting $52.16. 1,352,221 shares of the stock traded hands, compared to its average volume of 2,106,486. The company has a market capitalization of $6.82 billion, a PE ratio of 23.60, a PEG ratio of 1.09 and a beta of 1.28. 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 1-year low of $37.34 and a 1-year high of $65.08. The company's fifty day moving average is $51.64 and its 200 day moving average is $51.22.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. On average, equities research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, June 27th. Flowserve's dividend payout ratio is presently 38.01%.

Institutional Trading of Flowserve

Institutional investors and hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. grew its stake in shares of Flowserve by 12.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 15,774 shares of the industrial products company's stock valued at $825,000 after buying an additional 1,691 shares during the period. Inspire Advisors LLC acquired a new stake in shares of Flowserve in the 2nd quarter valued at about $236,000. Cetera Investment Advisers grew its stake in shares of Flowserve by 102.6% in the 2nd quarter. Cetera Investment Advisers now owns 32,116 shares of the industrial products company's stock valued at $1,681,000 after buying an additional 16,262 shares during the period. MJP Associates Inc. ADV grew its stake in shares of Flowserve by 6.2% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,580 shares of the industrial products company's stock valued at $240,000 after buying an additional 266 shares during the period. Finally, Creative Planning grew its stake in shares of Flowserve by 99.7% in the 2nd quarter. Creative Planning now owns 17,576 shares of the industrial products company's stock valued at $920,000 after buying an additional 8,777 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLS has been the subject of several research reports. Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Mizuho set a $60.00 price target on shares of Flowserve in a research note on Friday, May 16th. Robert W. Baird decreased their price target on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Citigroup raised their price target on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. 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 company. Based on data from MarketBeat.com, Flowserve presently has an average rating of "Buy" and a consensus price target of $65.78.

View Our Latest Report on FLS

Flowserve Company Profile

(Get Free Report)

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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