Flowserve Corporation $FLS Shares Sold by Bailard Inc.

Bailard Inc. cut its holdings in Flowserve Corporation (NYSE:FLS) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,006 shares of the industrial products company’s stock after selling 800 shares during the quarter. Bailard Inc.’s holdings in Flowserve were worth $576,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FLS. Cerity Partners LLC grew its holdings in shares of Flowserve by 8.0% during the first quarter. Cerity Partners LLC now owns 70,555 shares of the industrial products company’s stock worth $3,446,000 after buying an additional 5,251 shares during the last quarter. New York State Common Retirement Fund lifted its position in Flowserve by 35.2% during the 1st quarter. New York State Common Retirement Fund now owns 312,552 shares of the industrial products company’s stock worth $15,265,000 after acquiring an additional 81,331 shares during the period. Edgestream Partners L.P. grew its stake in shares of Flowserve by 11.1% in the 1st quarter. Edgestream Partners L.P. now owns 11,535 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,151 shares during the last quarter. Signaturefd LLC grew its stake in shares of Flowserve by 71.5% in the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 429 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Flowserve by 1.6% in the first quarter. Victory Capital Management Inc. now owns 136,462 shares of the industrial products company’s stock valued at $6,665,000 after purchasing an additional 2,151 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Trading Down 1.3%

Shares of FLS opened at $67.14 on Friday. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $72.08. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $8.53 billion, a P/E ratio of 19.52, a PEG ratio of 1.38 and a beta of 1.32. The firm’s 50-day moving average is $57.63 and its two-hundred day moving average is $53.56.

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

Insiders Place Their Bets

In other news, insider Susan Claire Hudson sold 10,667 shares of Flowserve stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the transaction, the insider owned 6,589 shares of the company’s stock, valued at $461,295.89. The trade was a 61.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Amy B. Schwetz sold 47,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the completion of the sale, the chief financial officer owned 52,628 shares in the company, valued at $3,737,640.56. This represents a 47.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 59,276 shares of company stock worth $4,196,578. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FLS. UBS Group lifted their price objective on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Cowen reaffirmed a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Citigroup raised their price objective on shares of Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, TD Cowen boosted their target price on Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average price target of $75.33.

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.