American International Group Inc. Decreases Stake in Flowserve Co. (NYSE:FLS)

American International Group Inc. lowered its holdings in Flowserve Co. (NYSE:FLSFree Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,229 shares of the industrial products company’s stock after selling 7,625 shares during the quarter. American International Group Inc. owned 0.14% of Flowserve worth $7,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Campbell & CO Investment Adviser LLC bought a new stake in shares of Flowserve in the fourth quarter worth $774,000. Bank of Nova Scotia bought a new stake in shares of Flowserve in the fourth quarter worth $1,096,000. Isthmus Partners LLC grew its holdings in shares of Flowserve by 3.7% in the fourth quarter. Isthmus Partners LLC now owns 236,471 shares of the industrial products company’s stock worth $9,747,000 after acquiring an additional 8,449 shares during the period. TFO Wealth Partners LLC grew its holdings in shares of Flowserve by 14,663.6% in the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,613 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Flowserve by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,004 shares of the industrial products company’s stock worth $2,391,000 after acquiring an additional 560 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert Scott Rowe sold 42,269 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the sale, the chief executive officer now directly owns 407,243 shares in the company, valued at $20,354,005.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

Flowserve Stock Performance

NYSE FLS opened at $47.85 on Tuesday. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $47.98 and a 200-day moving average price of $43.75. Flowserve Co. has a twelve month low of $35.23 and a twelve month high of $50.49.

Flowserve (NYSE:FLSGet Free Report) last posted its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, equities research analysts predict that Flowserve Co. will post 2.66 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. Flowserve’s dividend payout ratio is currently 47.46%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Monday, May 27th. UBS Group boosted their price target on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Royal Bank of Canada boosted their price target on Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. TD Cowen boosted their price target on Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Mizuho reissued a “buy” rating and set a $53.00 price target (up previously from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.55.

Check Out Our Latest Stock Analysis on FLS

Flowserve Company Profile

(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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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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