Strs Ohio Has $166,000 Stock Position in Flowserve Corporation $FLS

Strs Ohio lowered its stake in shares of Flowserve Corporation (NYSE:FLS) by 91.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,115 shares of the industrial products company’s stock after selling 34,990 shares during the quarter. Strs Ohio’s holdings in Flowserve were worth $166,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FLS. First Horizon Advisors Inc. bought a new position in shares of Flowserve during the 2nd quarter worth about $26,000. Hilltop National Bank bought a new stake in shares of Flowserve in the second quarter valued at about $31,000. IFP Advisors Inc grew its position in Flowserve by 1,289.6% during the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after buying an additional 619 shares in the last quarter. Hantz Financial Services Inc. grew its position in Flowserve by 149.8% during 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 in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Flowserve during the third quarter valued at about $40,000. 93.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Lamar L. Duhon sold 1,609 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was 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 $1,050,713.16. This trade represents a 9.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FLS has been the subject of a number of research reports. Citigroup raised their price objective on Flowserve from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Mizuho lifted their price target on shares of Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Jefferies Financial Group increased their price objective on shares of Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Stifel Nicolaus raised their price objective on shares of Flowserve from $84.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, TD Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and a consensus price target of $79.90.

Flowserve Stock Up 0.6%

Shares of NYSE:FLS opened at $79.70 on Wednesday. The company’s fifty day moving average is $73.27 and its 200-day moving average is $62.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $80.89. The company has a market capitalization of $10.13 billion, a PE ratio of 23.17, a P/E/G ratio of 1.41 and a beta of 1.29.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were issued 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%.

About Flowserve

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.