Boston Partners Takes $223.56 Million Position in Flowserve Corporation $FLS

Boston Partners purchased a new position in Flowserve Corporation (NYSE:FLS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,268,508 shares of the industrial products company’s stock, valued at approximately $223,561,000. Boston Partners owned approximately 3.26% of Flowserve as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLS. Avantax Advisory Services Inc. lifted its holdings in Flowserve by 24.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,991 shares of the industrial products company’s stock worth $293,000 after buying an additional 1,163 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Flowserve by 57.2% during the 1st quarter. Cetera Investment Advisers now owns 15,854 shares of the industrial products company’s stock valued at $774,000 after acquiring an additional 5,769 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Flowserve by 2.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,096 shares of the industrial products company’s stock worth $1,763,000 after purchasing an additional 914 shares during the last quarter. LPL Financial LLC boosted its holdings in Flowserve by 5.4% in the first quarter. LPL Financial LLC now owns 70,081 shares of the industrial products company’s stock worth $3,423,000 after purchasing an additional 3,562 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Flowserve by 585.9% during the first quarter. Mackenzie Financial Corp now owns 77,620 shares of the industrial products company’s stock valued at $3,791,000 after purchasing an additional 66,303 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FLS shares. Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Cowen reissued a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. The Goldman Sachs Group lifted their target price on Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Bank of America reissued 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 issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.33.

Flowserve Trading Up 0.5%

Flowserve stock opened at $70.66 on Thursday. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $72.08. 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 firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.38 and a beta of 1.32. The firm has a 50-day moving average price of $59.48 and a two-hundred day moving average price of $54.79.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share 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 return on equity of 19.41% and a net margin of 9.66%.The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Sell-side analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current year.

Insider Buying and Selling at Flowserve

In other news, insider Susan Claire Hudson sold 10,667 shares of the firm’s 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 transaction, the insider directly owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. This trade represents a 61.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy B. Schwetz sold 47,000 shares of Flowserve stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the sale, the chief financial officer owned 52,628 shares in the company, valued at approximately $3,737,640.56. This represents a 47.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 59,276 shares of company stock valued at $4,196,578 in the last quarter. Corporate insiders own 0.76% of the company’s stock.

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.