Beutel Goodman & Co Ltd. Sells 70,175 Shares of Flowserve Corporation $FLS

Beutel Goodman & Co Ltd. trimmed its holdings in Flowserve Corporation (NYSE:FLS) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,512,094 shares of the industrial products company’s stock after selling 70,175 shares during the quarter. Beutel Goodman & Co Ltd. owned about 1.92% of Flowserve worth $131,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KPP Advisory Services LLC increased its holdings in shares of Flowserve by 2.3% during the second quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 222 shares in the last quarter. Delta Investment Management LLC grew its holdings in shares of Flowserve by 3.2% in the first quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company’s stock valued at $374,000 after acquiring an additional 237 shares in the last quarter. MJP Associates Inc. ADV raised its stake in shares of Flowserve by 6.2% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,580 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 266 shares during the period. Parallel Advisors LLC increased its holdings in Flowserve by 74.5% during the second quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock worth $42,000 after buying an additional 344 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Flowserve by 47.2% in the first quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company’s stock valued at $53,000 after buying an additional 349 shares during the period. 93.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Flowserve news, 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 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 approximately $3,737,640.56. The trade was a 47.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $461,295.89. This represents a 61.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,276 shares of company stock worth $4,196,578 in the last 90 days. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

FLS has been the subject of several recent research reports. Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Stifel Nicolaus set a $84.00 target price on shares of Flowserve in a research report on Thursday, October 30th. The Goldman Sachs Group raised their price target on Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, TD Cowen lifted their price target on Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.33.

Flowserve Stock Performance

Shares of FLS stock opened at $71.83 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $61.26 and a 200 day moving average of $55.57. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.43 and a beta of 1.30. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $72.68.

Flowserve (NYSE:FLS) last posted 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. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $0.62 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, research analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Company 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.