Artisan Partners Limited Partnership Sells 5,035 Shares of Flowserve Corporation $FLS

Artisan Partners Limited Partnership cut its position in shares of Flowserve Corporation (NYSE:FLS) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 695,704 shares of the industrial products company’s stock after selling 5,035 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.53% of Flowserve worth $36,420,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FLS. TD Private Client Wealth LLC bought a new position in shares of Flowserve during the 2nd quarter worth approximately $25,000. First Horizon Advisors Inc. purchased a new stake in shares of Flowserve during the second quarter valued at approximately $26,000. Hilltop National Bank bought a new stake in Flowserve during the second quarter worth $31,000. IFP Advisors Inc lifted its holdings 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 acquiring an additional 619 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in Flowserve by 149.8% in the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 418 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Insider Transactions at Flowserve

In other news, CFO Amy B. Schwetz sold 47,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total value of $3,337,940.00. Following the completion of the transaction, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at $3,737,640.56. This trade represents a 47.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total value of $111,841.59. Following the completion of the transaction, the insider owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 59,276 shares of company stock valued at $4,196,578 over the last three months. Company insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FLS. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. UBS Group increased their target price 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. Finally, Bank of America reaffirmed a “neutral” rating and issued a $73.00 price target (up previously from $60.00) on shares of Flowserve in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.33.

Flowserve Price Performance

Shares of NYSE:FLS opened at $65.97 on Friday. The firm has a market capitalization of $8.39 billion, a PE ratio of 19.18, a P/E/G 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. The company has a 50-day moving average price of $58.44 and a two-hundred day moving average price of $54.12. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $72.08.

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

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.