Cetera Investment Advisers Buys 16,262 Shares of Flowserve Corporation $FLS

Cetera Investment Advisers increased its position in Flowserve Corporation (NYSE:FLS) by 102.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,116 shares of the industrial products company’s stock after purchasing an additional 16,262 shares during the quarter. Cetera Investment Advisers’ holdings in Flowserve were worth $1,681,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC purchased a new stake in shares of Flowserve in the 2nd quarter worth $25,000. First Horizon Advisors Inc. bought a new stake in shares of Flowserve in the second quarter valued at about $26,000. Hilltop National Bank purchased a new stake in Flowserve in the second quarter worth about $31,000. IFP Advisors Inc grew its holdings in Flowserve by 1,289.6% during the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 619 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in Flowserve by 149.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 418 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Price Performance

Shares of NYSE FLS opened at $71.35 on Monday. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $72.08. The company has a market cap of $9.07 billion, a PE ratio of 20.74, a P/E/G ratio of 1.38 and a beta of 1.32. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 2.10. The business has a 50-day simple moving average of $60.03 and a two-hundred day simple moving average of $55.08.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $1.17 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, equities analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FLS shares. Cowen reaffirmed a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Wall Street Zen cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday. Citigroup boosted their price target on Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Stifel Nicolaus set a $84.00 price objective on Flowserve in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Flowserve has an average rating of “Moderate Buy” and a consensus price target of $75.33.

Insider Buying and Selling at Flowserve

In other Flowserve news, insider Susan Claire Hudson sold 10,667 shares of the firm’s 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amy B. Schwetz sold 47,000 shares of Flowserve stock in a transaction on 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 sale, the chief financial officer owned 52,628 shares of the company’s stock, valued at $3,737,640.56. The trade was a 47.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 59,276 shares of company stock worth $4,196,578. 0.76% of the stock is owned by corporate insiders.

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.