18,942 Shares in Flowserve Corporation $FLS Acquired by Brian Low Financial Group LLC

Brian Low Financial Group LLC bought a new stake in Flowserve Corporation (NYSE:FLS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,942 shares of the industrial products company’s stock, valued at approximately $1,007,000.

Other hedge funds also recently bought and sold shares of the company. Boston Partners purchased a new stake in shares of Flowserve in the second quarter valued at $223,561,000. Norges Bank acquired a new position in Flowserve in the 2nd quarter valued at about $88,247,000. Third Point LLC purchased a new position in Flowserve in the 2nd quarter valued at about $62,558,000. Merewether Investment Management LP purchased a new position in Flowserve in the 2nd quarter valued at about $46,555,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Flowserve by 78.8% during the 2nd quarter. Fisher Asset Management LLC now owns 1,858,621 shares of the industrial products company’s stock worth $97,299,000 after purchasing an additional 819,206 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insider Transactions at Flowserve

In other Flowserve news, 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 value of $3,337,940.00. Following the completion of the transaction, the chief financial officer owned 52,628 shares in the company, valued at $3,737,640.56. This represents a 47.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lamar L. Duhon sold 1,609 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the sale, the insider directly owned 15,116 shares of the company’s stock, valued at $1,050,713.16. This trade represents a 9.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 59,276 shares of company stock valued at $4,196,578 over the last quarter. Company insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Flowserve from $71.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Bank of America reissued a “neutral” rating and set a $73.00 price target (up previously from $60.00) on shares of Flowserve in a research note on Friday, November 14th. Stifel Nicolaus set a $84.00 price objective on Flowserve in a research report 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 note on Tuesday, November 4th. Finally, UBS Group raised their price target on Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $77.20.

Flowserve Stock Down 0.4%

FLS opened at $71.03 on Friday. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $74.63. The firm has a 50 day moving average price of $67.51 and a 200 day moving average price of $57.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10. The company has a market cap of $9.03 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.44 and a beta of 1.30.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Flowserve’s revenue for the quarter was up 3.6% on a year-over-year basis. 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.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, December 26th. Flowserve’s payout ratio is currently 24.42%.

Flowserve Company Profile

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.