Flowserve Corporation $FLS Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. grew its holdings in shares of Flowserve Corporation (NYSE:FLS) by 67.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,914 shares of the industrial products company’s stock after buying an additional 14,025 shares during the quarter. D.A. Davidson & CO.’s holdings in Flowserve were worth $1,855,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FLS. TD Private Client Wealth LLC purchased a new stake in Flowserve during the 2nd quarter worth $25,000. First Horizon Advisors Inc. acquired a new position in shares of Flowserve during the second quarter worth about $26,000. Hilltop National Bank acquired a new position in shares of Flowserve during the second quarter worth about $31,000. IFP Advisors Inc boosted 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 worth $35,000 after buying an additional 619 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Flowserve by 149.8% in the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after buying an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 2.5%

FLS stock opened at $73.55 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $70.34 and a 200-day simple moving average of $59.69. The company has a market capitalization of $9.35 billion, a P/E ratio of 21.38, a PEG ratio of 1.28 and a beta of 1.29. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $74.63.

Flowserve (NYSE:FLS) last posted its quarterly earnings results 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 analysts’ expectations of $1.21 billion. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period 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. On average, equities research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, December 26th. Flowserve’s dividend payout ratio (DPR) is 24.42%.

Insider Buying and Selling

In other news, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total value of $111,841.59. Following the completion of the transaction, the insider owned 15,116 shares in the company, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 52,628 shares in the company, valued at approximately $3,737,640.56. This represents a 47.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 59,276 shares of company stock worth $4,196,578. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on FLS. Royal Bank Of Canada boosted their price target on Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Mizuho lifted their price objective on shares of Flowserve from $60.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Citigroup boosted their target price on shares of Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Finally, TD Cowen lifted their price target on shares of 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, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.60.

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.