13,404 Shares in Flowserve Corporation $FLS Bought by Gallacher Capital Management LLC

Gallacher Capital Management LLC bought a new position in Flowserve Corporation (NYSE:FLS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,404 shares of the industrial products company’s stock, valued at approximately $712,000.

Several other institutional investors and hedge funds have also made changes to their positions in FLS. Massachusetts Financial Services Co. MA boosted its position in Flowserve by 104.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock valued at $230,281,000 after buying an additional 2,213,406 shares during the last quarter. Boston Partners acquired a new position in Flowserve in the second quarter worth $223,561,000. AQR Capital Management LLC boosted its holdings in shares of Flowserve by 7.2% in the 2nd quarter. AQR Capital Management LLC now owns 2,939,892 shares of the industrial products company’s stock valued at $153,903,000 after buying an additional 197,406 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Flowserve by 78.8% during the second quarter. Fisher Asset Management LLC now owns 1,858,621 shares of the industrial products company’s stock valued at $97,299,000 after purchasing an additional 819,206 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Flowserve by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,706,409 shares of the industrial products company’s stock worth $89,331,000 after purchasing an additional 197,757 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flowserve

In related news, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total value of $111,841.59. Following the transaction, the insider owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by company insiders.

Flowserve Trading Up 0.1%

Shares of NYSE:FLS opened at $79.85 on Thursday. 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 stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.42 and a beta of 1.29. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $80.90. The company has a 50 day moving average price of $73.45 and a 200 day moving average price of $62.80.

Flowserve Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on FLS. Mizuho boosted their price objective on Flowserve from $60.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a report on Thursday, January 22nd. Zacks Research cut shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. TD Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Finally, Citigroup boosted their target price on shares of Flowserve from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.90.

Flowserve Company 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.