Flowserve Co. (NYSE:FLS) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC reduced its position in Flowserve Co. (NYSE:FLS - Free Report) by 50.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,158 shares of the industrial products company's stock after selling 19,162 shares during the quarter. Dumont & Blake Investment Advisors LLC's holdings in Flowserve were worth $990,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. 180 Wealth Advisors LLC acquired a new position in shares of Flowserve during the first quarter worth about $248,000. First Bank & Trust purchased a new stake in shares of Flowserve during the first quarter worth approximately $211,000. Diversified Trust Co increased its stake in shares of Flowserve by 14.5% during the first quarter. Diversified Trust Co now owns 90,267 shares of the industrial products company's stock worth $4,123,000 after buying an additional 11,456 shares during the period. Oak Thistle LLC purchased a new stake in shares of Flowserve during the first quarter worth approximately $545,000. Finally, State of Michigan Retirement System increased its stake in shares of Flowserve by 2.5% during the first quarter. State of Michigan Retirement System now owns 32,268 shares of the industrial products company's stock worth $1,474,000 after buying an additional 800 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Performance

Shares of FLS stock traded up $0.16 during trading hours on Friday, hitting $52.68. The stock had a trading volume of 799,245 shares, compared to its average volume of 1,069,300. The firm has a market capitalization of $6.94 billion, a PE ratio of 29.76, a PEG ratio of 1.27 and a beta of 1.39. Flowserve Co. has a twelve month low of $35.52 and a twelve month high of $55.90. The stock's 50 day moving average is $50.36 and its 200 day moving average is $48.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.10. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, research analysts forecast that Flowserve Co. will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve's payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 8th. Bank of America restated a "buy" rating and set a $60.00 target price on shares of Flowserve in a research note on Tuesday, September 24th. Stifel Nicolaus increased their price target on shares of Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Finally, Mizuho increased their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.50.

Flowserve 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.