Creative Planning Acquires 8,777 Shares of Flowserve Corporation $FLS

Creative Planning raised its holdings in Flowserve Corporation (NYSE:FLS) by 99.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,576 shares of the industrial products company’s stock after buying an additional 8,777 shares during the period. Creative Planning’s holdings in Flowserve were worth $920,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Flowserve

In other news, insider Susan Claire Hudson sold 10,667 shares of the business’s stock in a transaction that occurred 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 directly owned 6,589 shares in the company, valued at approximately $461,295.89. The trade was a 61.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction that occurred 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 directly owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This trade represents a 47.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 59,276 shares of company stock valued at $4,196,578 in the last ninety days. 0.76% of the stock is currently owned by company insiders.

Flowserve Trading Down 0.9%

Shares of NYSE:FLS opened at $70.68 on Tuesday. The company has a market capitalization of $8.98 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.38 and a beta of 1.32. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $72.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.50. The business’s 50 day simple moving average is $60.31 and its 200 day simple moving average is $55.22.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $1.17 billion during 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 company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. On average, research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on FLS shares. Royal Bank Of Canada upped their price target on shares of Flowserve from $66.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. TD Cowen upped their target price on Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Stifel Nicolaus set a $84.00 target price on Flowserve in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. Finally, Cowen reaffirmed a “buy” rating on shares of Flowserve in a 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 assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.33.

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.