Deprince Race & Zollo Inc. Sells 15,428 Shares of Flowserve Corporation $FLS

Deprince Race & Zollo Inc. cut its stake in shares of Flowserve Corporation (NYSE:FLS) by 1.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,477,202 shares of the industrial products company’s stock after selling 15,428 shares during the period. Flowserve makes up about 1.6% of Deprince Race & Zollo Inc.’s holdings, making the stock its 6th biggest position. Deprince Race & Zollo Inc. owned 1.13% of Flowserve worth $78,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FLS. TD Private Client Wealth LLC acquired a new stake in Flowserve during the 2nd quarter worth about $25,000. First Horizon Advisors Inc. acquired a new stake in shares of Flowserve during the second quarter valued at approximately $26,000. Hilltop National Bank purchased a new stake in shares of Flowserve in the 2nd quarter valued at approximately $31,000. IFP Advisors Inc boosted its stake in Flowserve by 1,289.6% in the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 619 shares during the period. Finally, Hantz Financial Services Inc. grew 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 worth $36,000 after purchasing an additional 418 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insider Activity at Flowserve

In other news, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the sale, the insider owned 15,116 shares in the company, valued at approximately $1,050,713.16. This represents a 9.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Susan Claire Hudson sold 10,667 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the transaction, the insider directly owned 6,589 shares in the company, valued at approximately $461,295.89. This represents a 61.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 59,276 shares of company stock valued at $4,196,578. Insiders own 0.76% of the company’s stock.

Flowserve Stock Performance

Shares of FLS stock opened at $71.03 on Friday. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $74.63. The stock’s 50-day moving average is $67.51 and its two-hundred day moving average is $58.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.54. The firm has a market cap of $9.03 billion, a P/E ratio of 20.65, a PEG ratio of 1.43 and a beta of 1.30.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 EPS 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 during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

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

Wall Street Analysts Forecast Growth

FLS has been the subject of a number of research analyst reports. TD Cowen increased their target price on Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. The Goldman Sachs Group increased their price objective on Flowserve from $71.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Citigroup raised their price objective on Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada increased their price target on shares of Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.20.

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.