345,600 Shares in Flowserve Corporation $FLS Bought by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new stake in shares of Flowserve Corporation (NYSE:FLS) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 345,600 shares of the industrial products company’s stock, valued at approximately $18,092,000. Segall Bryant & Hamill LLC owned about 0.26% of Flowserve at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of FLS. Boston Partners bought a new position in shares of Flowserve during the 2nd quarter worth about $223,247,000. Nuveen LLC acquired a new stake in Flowserve during the first quarter worth about $111,598,000. Erste Asset Management GmbH increased its stake in Flowserve by 978.8% during the first quarter. Erste Asset Management GmbH now owns 1,003,800 shares of the industrial products company’s stock valued at $49,025,000 after acquiring an additional 910,750 shares during the period. William Blair Investment Management LLC raised its holdings in Flowserve by 4,997.4% in the 2nd quarter. William Blair Investment Management LLC now owns 429,256 shares of the industrial products company’s stock valued at $22,472,000 after acquiring an additional 420,835 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Flowserve by 32.6% in the 1st quarter. Millennium Management LLC now owns 1,630,226 shares of the industrial products company’s stock worth $79,620,000 after acquiring an additional 400,925 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Performance

Flowserve stock opened at $67.73 on Friday. The firm has a market capitalization of $8.61 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.38 and a beta of 1.32. The stock has a fifty day moving average price of $58.67 and a two-hundred day moving average price of $54.32. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $72.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.50.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FLS. Stifel Nicolaus set a $84.00 price objective on Flowserve in a research report on Thursday, October 30th. Citigroup raised their target price 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 lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Royal Bank Of Canada increased their price objective on shares of Flowserve from $66.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, TD Cowen raised their price objective on shares of Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.33.

Insiders Place Their Bets

In other news, insider Lamar L. Duhon sold 1,609 shares of the business’s 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 transaction, the insider directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total value of $746,796.67. Following the sale, the insider owned 6,589 shares in the company, valued at approximately $461,295.89. This trade represents a 61.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 59,276 shares of company stock valued at $4,196,578. 0.76% of the stock is currently owned by insiders.

About Flowserve

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.