Flowserve Corporation $FLS Shares Sold by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. lessened its holdings in Flowserve Corporation (NYSE:FLS) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,665 shares of the industrial products company’s stock after selling 1,030 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Flowserve were worth $715,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FLS. TD Private Client Wealth LLC acquired a new stake in Flowserve in the second quarter worth about $25,000. Hilltop National Bank acquired a new stake in Flowserve in the second quarter worth about $31,000. IFP Advisors Inc boosted its holdings in Flowserve by 1,289.6% in the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 619 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Flowserve by 74.5% during the second quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 344 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Flowserve by 71.5% during the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 429 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 4.8%

Shares of NYSE:FLS opened at $49.10 on Monday. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $65.08. The company has a market capitalization of $6.42 billion, a PE ratio of 22.22, a PEG ratio of 1.00 and a beta of 1.27. The business has a 50 day moving average of $53.97 and a two-hundred day moving average of $50.60. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63.

Flowserve (NYSE:FLS) last posted its quarterly earnings data 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 analysts’ expectations of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. As a group, analysts forecast that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The company also recently declared 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 dividend yield of 1.7%. The ex-dividend date was Friday, September 26th. Flowserve’s payout ratio is presently 38.01%.

Insider Activity at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 37,196 shares in the company, valued at approximately $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup lifted their target price on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 14th. The Goldman Sachs Group lifted their target price on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Royal Bank Of Canada lifted their target price on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Stifel Nicolaus lifted their target price on Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Flowserve currently has a consensus rating of “Buy” and a consensus target price of $65.78.

About Flowserve

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.