SG Americas Securities LLC Boosts Stock Position in Flowserve Corporation $FLS

SG Americas Securities LLC boosted its position in Flowserve Corporation (NYSE:FLS) by 274.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,292 shares of the industrial products company’s stock after purchasing an additional 49,324 shares during the quarter. SG Americas Securities LLC owned approximately 0.05% of Flowserve worth $3,576,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Flowserve by 0.5% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,128 shares of the industrial products company’s stock worth $2,345,000 after acquiring an additional 200 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in Flowserve by 0.7% in the third quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock worth $1,456,000 after purchasing an additional 200 shares during the last quarter. KPP Advisory Services LLC increased its position 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 worth $514,000 after purchasing an additional 222 shares in the last quarter. MJP Associates Inc. ADV lifted its holdings 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 valued at $240,000 after purchasing an additional 266 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Flowserve by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,663 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 271 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

Shares of NYSE:FLS opened at $73.55 on Monday. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $74.63. 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 company has a market cap of $9.35 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.31 and a beta of 1.29. The company’s 50 day moving average is $70.34 and its 200 day moving average is $59.85.

Flowserve (NYSE:FLS) last released its quarterly earnings data 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. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. On average, sell-side analysts forecast that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

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

Insider Buying and Selling at Flowserve

In other news, insider Lamar L. Duhon sold 1,609 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,050,713.16. The trade was a 9.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 52,628 shares in the company, valued at $3,737,640.56. The trade was a 47.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 59,276 shares of company stock worth $4,196,578. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

FLS has been the topic of several recent analyst reports. Royal Bank Of Canada upped their target price on Flowserve from $66.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. TD Cowen upped their price objective on shares of Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. UBS Group increased their price objective on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Bank of America reissued a “neutral” rating and set a $73.00 target price (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Finally, The Goldman Sachs Group upped their price target 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. One 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’s stock. According to MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and a consensus target price 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.