Flowserve (FLS) Shares Gap Up to $52.00

Shares of Flowserve Corp (NYSE:FLS) gapped up prior to trading on Monday . The stock had previously closed at $52.95, but opened at $52.00. Flowserve shares last traded at $50.65, with a volume of 38656 shares trading hands.

A number of analysts recently weighed in on the stock. ValuEngine upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded shares of Flowserve from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Finally, TheStreet upgraded shares of Flowserve from a “c” rating to a “b-” rating in a report on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. Flowserve has an average rating of “Hold” and an average price target of $48.85.

The company has a current ratio of 2.17, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $6.58 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.56 and a beta of 1.66.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The company had revenue of $890.05 million for the quarter, compared to the consensus estimate of $943.79 million. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Flowserve Corp will post 2.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.53%. Flowserve’s dividend payout ratio (DPR) is presently 43.43%.

In other news, insider John Lenander sold 6,818 shares of Flowserve stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $44.75, for a total value of $305,105.50. Following the sale, the insider now directly owns 22,130 shares in the company, valued at $990,317.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its holdings in shares of Flowserve by 1.5% in the fourth quarter. Teacher Retirement System of Texas now owns 15,639 shares of the industrial products company’s stock valued at $595,000 after purchasing an additional 236 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of Flowserve by 1.3% in the first quarter. Mason Street Advisors LLC now owns 18,687 shares of the industrial products company’s stock valued at $844,000 after purchasing an additional 238 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Flowserve by 2.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,103 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 240 shares during the last quarter. Alpha Windward LLC raised its holdings in shares of Flowserve by 2.4% in the first quarter. Alpha Windward LLC now owns 10,317 shares of the industrial products company’s stock valued at $466,000 after purchasing an additional 240 shares during the last quarter. Finally, State Treasurer State of Michigan raised its holdings in shares of Flowserve by 0.8% in the first quarter. State Treasurer State of Michigan now owns 37,775 shares of the industrial products company’s stock valued at $1,705,000 after purchasing an additional 300 shares during the last quarter.

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Flowserve Company Profile (NYSE:FLS)

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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