Flowserve Co. (NYSE:FLS) Short Interest Update

Flowserve Co. (NYSE:FLS) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,650,000 shares, a drop of 13.2% from the June 15th total of 1,900,000 shares. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is currently 1.6 days.

Insider Activity

In other Flowserve news, CEO Robert Scott Rowe sold 42,269 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the transaction, the chief executive officer now owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Trading of Flowserve

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLS. Peregrine Capital Management LLC purchased a new stake in shares of Flowserve in the 4th quarter valued at $6,031,000. Eaton Financial Holdings Company LLC acquired a new stake in Flowserve during the 4th quarter worth about $2,169,000. Wakefield Asset Management LLLP purchased a new position in shares of Flowserve during the 4th quarter valued at about $866,000. RBA Wealth Management LLC acquired a new position in shares of Flowserve in the 1st quarter valued at about $3,112,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Flowserve in the first quarter worth about $3,808,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Flowserve from $48.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Mizuho reissued a “buy” rating and issued a $53.00 price target (up from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. TD Cowen raised their price objective on Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. UBS Group lifted their target price on Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Citigroup increased their price target on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.55.

Flowserve Stock Down 0.6 %

Shares of FLS stock traded down $0.32 during trading hours on Wednesday, reaching $51.20. 255,455 shares of the company’s stock were exchanged, compared to its average volume of 1,054,733. Flowserve has a 1 year low of $35.31 and a 1 year high of $51.67. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6.74 billion, a PE ratio of 29.12, a PEG ratio of 1.28 and a beta of 1.42. The stock’s fifty day moving average price is $48.43 and its two-hundred day moving average price is $45.26.

Flowserve (NYSE:FLS) last released 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 during the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. Flowserve’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. Research analysts predict that Flowserve will post 2.66 EPS for the current year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.21 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.64%. Flowserve’s dividend payout ratio (DPR) is 47.46%.

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.