Dumont & Blake Investment Advisors LLC Buys New Shares in Flowserve Co. (NYSE:FLS)

Dumont & Blake Investment Advisors LLC purchased a new stake in Flowserve Co. (NYSE:FLS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,980 shares of the industrial products company’s stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Bank & Trust acquired a new stake in shares of Flowserve in the first quarter valued at approximately $211,000. Hennessy Advisors Inc. raised its position in shares of Flowserve by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 617,900 shares of the industrial products company’s stock worth $28,226,000 after acquiring an additional 76,400 shares during the last quarter. 180 Wealth Advisors LLC acquired a new position in shares of Flowserve during the first quarter valued at $248,000. Moody National Bank Trust Division boosted its holdings in Flowserve by 2.8% in the first quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after acquiring an additional 259 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in Flowserve in the fourth quarter worth about $6,384,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Mizuho reaffirmed a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Flowserve in a research note on Wednesday, May 1st. UBS Group upped their target price on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus raised their price target on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird upped their price target on Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.55.

Flowserve Stock Up 1.0 %

Shares of FLS traded up $0.46 during midday trading on Friday, hitting $48.10. The stock had a trading volume of 1,159,891 shares, compared to its average volume of 935,991. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a 50 day simple moving average of $48.26 and a two-hundred day simple moving average of $44.64. Flowserve Co. has a twelve month low of $35.31 and a twelve month high of $50.49.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. On average, analysts anticipate that Flowserve Co. will post 2.66 EPS for the current year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.75%. Flowserve’s dividend payout ratio is presently 47.46%.

Insider Buying and Selling

In related news, CEO Robert Scott Rowe sold 42,269 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the completion of the sale, the chief executive officer now directly owns 407,243 shares in the company, valued at approximately $20,354,005.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

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.