Great Lakes Advisors LLC Sells 29,846 Shares of Flowserve Corporation $FLS

Great Lakes Advisors LLC lowered its position in Flowserve Corporation (NYSE:FLS) by 49.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,543 shares of the industrial products company’s stock after selling 29,846 shares during the quarter. Great Lakes Advisors LLC’s holdings in Flowserve were worth $1,623,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. purchased a new stake in Flowserve in the 2nd quarter worth about $26,000. Hilltop National Bank bought a new position in shares of Flowserve during the second quarter valued at approximately $31,000. IFP Advisors Inc grew its stake in shares of Flowserve by 1,289.6% during the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after buying an additional 619 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Flowserve by 149.8% in the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock worth $36,000 after buying an additional 418 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Flowserve during the 3rd quarter worth approximately $40,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Trading Down 0.8%

NYSE:FLS opened at $77.99 on Friday. Flowserve Corporation has a one year low of $37.34 and a one year high of $78.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10. The firm has a market cap of $9.91 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.40 and a beta of 1.29. The firm has a 50-day simple moving average of $72.87 and a 200-day simple moving average of $62.27.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 26th. Flowserve’s payout ratio is presently 24.42%.

Insider Buying and Selling

In other Flowserve news, insider Lamar L. Duhon sold 1,609 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the sale, the insider directly owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Susan Claire Hudson sold 10,667 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the sale, the insider owned 6,589 shares in the company, valued at $461,295.89. This represents a 61.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 59,276 shares of company stock worth $4,196,578 in the last three months. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

FLS has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on Flowserve from $71.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Jefferies Financial Group upped their price target on shares of Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research note on Thursday, January 22nd. TD Cowen reissued a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $83.00 target price on shares of Flowserve in a research note on Thursday, January 15th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $79.90.

Flowserve Profile

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.