Allianz SE Invests $307,000 in Flowserve Corporation $FLS

Allianz SE acquired a new position in Flowserve Corporation (NYSE:FLS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,873 shares of the industrial products company’s stock, valued at approximately $307,000.

Several other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in Flowserve by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company’s stock valued at $237,185,000 after buying an additional 248,273 shares during the last quarter. Boston Partners bought a new position in shares of Flowserve in the 2nd quarter valued at about $223,247,000. Earnest Partners LLC increased its position in shares of Flowserve by 6.8% in the first quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock valued at $133,897,000 after acquiring an additional 173,528 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Flowserve by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company’s stock valued at $119,332,000 after purchasing an additional 75,374 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Flowserve during the 1st quarter worth approximately $111,598,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insider Activity

In other Flowserve news, insider Lamar L. Duhon sold 1,609 shares of the company’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 in the company, valued at $1,050,713.16. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of Flowserve stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the completion of the transaction, the insider owned 6,589 shares in the company, valued at approximately $461,295.89. The trade was a 61.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 59,276 shares of company stock worth $4,196,578. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 30th. The Goldman Sachs Group upped their target price on shares of Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. UBS Group raised their target price on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, TD Cowen upped their price objective on Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.63.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $68.06 on Friday. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $72.08. The company’s 50 day moving average price is $57.39 and its two-hundred day moving average price is $53.40. The firm has a market cap of $8.65 billion, a PE ratio of 19.78, a PEG ratio of 1.38 and a beta of 1.32. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the business earned $0.62 earnings per share. Flowserve’s revenue was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Equities research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

About Flowserve

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.