Janney Montgomery Scott LLC Has $1.89 Million Stock Holdings in Flowserve Corporation $FLS

Janney Montgomery Scott LLC grew its stake in Flowserve Corporation (NYSE:FLS) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,039 shares of the industrial products company’s stock after buying an additional 1,667 shares during the period. Janney Montgomery Scott LLC’s holdings in Flowserve were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Flowserve by 0.4% in the first quarter. Principal Financial Group Inc. now owns 302,275 shares of the industrial products company’s stock valued at $14,763,000 after buying an additional 1,103 shares during the period. KBC Group NV grew its stake in Flowserve by 4.8% during the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 258 shares during the period. GAMMA Investing LLC grew its stake in Flowserve by 26.6% during the first quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 481 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Flowserve by 453.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company’s stock worth $8,402,000 after purchasing an additional 139,939 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new stake in Flowserve during the first quarter worth approximately $216,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $532,200.00. Following the completion of the transaction, the insider directly owned 37,196 shares in the company, valued at $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by insiders.

Flowserve Stock Performance

Shares of FLS opened at $49.10 on Friday. The firm has a market cap of $6.42 billion, a PE ratio of 22.22, a PEG ratio of 1.05 and a beta of 1.27. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $65.08. 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 stock’s fifty day moving average price is $53.97 and its two-hundred day moving average price is $50.60.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations 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 forecast that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, September 26th. Flowserve’s payout ratio is presently 38.01%.

Analyst Ratings Changes

Several research firms recently commented on FLS. Citigroup raised their target price on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday. Royal Bank Of Canada raised their target price on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. The Goldman Sachs Group raised their target price on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus 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.