Flowserve Corp (NYSE:FLS) Insider John Lenander Sells 5,761 Shares

Flowserve Corp (NYSE:FLS) insider John Lenander sold 5,761 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $49.32, for a total value of $284,132.52. Following the transaction, the insider now owns 16,568 shares in the company, valued at $817,133.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

John Lenander also recently made the following trade(s):

  • On Wednesday, March 13th, John Lenander sold 6,818 shares of Flowserve stock. The shares were sold at an average price of $44.75, for a total value of $305,105.50.

NYSE:FLS traded up $0.76 during trading hours on Monday, hitting $53.45. 1,058,400 shares of the stock were exchanged, compared to its average volume of 999,370. The company’s 50 day moving average is $49.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.17 and a quick ratio of 1.57. The firm has a market capitalization of $6.91 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.54 and a beta of 1.62. Flowserve Corp has a twelve month low of $35.88 and a twelve month high of $56.86.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. Flowserve had a return on equity of 13.46% and a net margin of 4.25%. The company had revenue of $890.05 million for the quarter, compared to the consensus estimate of $943.79 million. During the same quarter in the prior year, the business posted $0.27 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. On average, research analysts anticipate that Flowserve Corp will post 2.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, June 20th. Flowserve’s dividend payout ratio is currently 43.43%.

Several research firms have recently weighed in on FLS. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Friday, May 17th. ValuEngine raised Flowserve from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $49.69.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. increased its position in shares of Flowserve by 91.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock valued at $41,000 after buying an additional 520 shares in the last quarter. Exane Asset Management bought a new position in Flowserve during the 4th quarter worth about $77,000. Enlightenment Research LLC bought a new position in Flowserve during the 4th quarter worth about $95,000. Municipal Employees Retirement System of Michigan bought a new position in Flowserve during the 4th quarter worth about $128,000. Finally, Dupont Capital Management Corp increased its holdings in Flowserve by 122.7% during the 4th quarter. Dupont Capital Management Corp now owns 3,715 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 2,047 shares in the last quarter. Institutional investors and hedge funds own 98.52% of the company’s stock.

About Flowserve

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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