Flowserve Corporation $FLS Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. lessened its stake in shares of Flowserve Corporation (NYSE:FLS) by 59.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,870 shares of the industrial products company’s stock after selling 29,045 shares during the period. Lecap Asset Management Ltd.’s holdings in Flowserve were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FLS. Truist Financial Corp raised its holdings in Flowserve by 11.0% in the 2nd quarter. Truist Financial Corp now owns 33,875 shares of the industrial products company’s stock valued at $1,773,000 after acquiring an additional 3,346 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Flowserve by 4.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 36,039 shares of the industrial products company’s stock valued at $1,887,000 after acquiring an additional 1,667 shares during the last quarter. RBA Wealth Management LLC raised its holdings in Flowserve by 0.9% in the 2nd quarter. RBA Wealth Management LLC now owns 81,397 shares of the industrial products company’s stock valued at $4,261,000 after acquiring an additional 713 shares during the last quarter. TD Private Client Wealth LLC acquired a new stake in Flowserve in the 2nd quarter valued at about $25,000. Finally, Oliver Luxxe Assets LLC raised its holdings in Flowserve by 1.1% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 49,152 shares of the industrial products company’s stock valued at $2,573,000 after acquiring an additional 518 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insiders Place Their Bets

In related news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the sale, the insider owned 37,196 shares in the company, valued at approximately $1,979,571.12. This trade represents a 21.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.76% of the company’s stock.

Flowserve Stock Up 0.2%

Shares of NYSE FLS opened at $52.85 on Friday. 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 company has a 50 day simple moving average of $54.39 and a 200-day simple moving average of $50.59. The company has a market capitalization of $6.91 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.08 and a beta of 1.27.

Flowserve (NYSE:FLS) last posted its 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. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. On average, equities research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, September 26th. Flowserve’s dividend payout ratio (DPR) is 38.01%.

Analyst Ratings Changes

FLS has been the subject of a number of recent research reports. Royal Bank Of Canada increased their price objective on shares of Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. The Goldman Sachs Group increased their price objective on shares of Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Stifel Nicolaus raised their price target on shares of Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Wall Street Zen downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Finally, Citigroup raised their price target on shares of Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average 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.