Flowserve Corporation $FLS Shares Purchased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey increased its position in Flowserve Corporation (NYSE:FLS) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,674 shares of the industrial products company’s stock after acquiring an additional 2,333 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Flowserve were worth $2,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KPP Advisory Services LLC increased its holdings in shares of Flowserve by 2.3% in the second quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock valued at $514,000 after purchasing an additional 222 shares during the period. Delta Investment Management LLC lifted its holdings in shares of Flowserve by 3.2% during the first quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company’s stock worth $374,000 after purchasing an additional 237 shares during the period. Parallel Advisors LLC boosted its position in Flowserve by 74.5% in the second quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock valued at $42,000 after buying an additional 344 shares during the last quarter. Brooklyn Investment Group boosted its position in Flowserve by 47.2% in the first quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company’s stock valued at $53,000 after buying an additional 349 shares during the last quarter. Finally, Veracity Capital LLC increased its holdings in Flowserve by 2.6% in the 2nd quarter. Veracity Capital LLC now owns 14,216 shares of the industrial products company’s stock worth $744,000 after buying an additional 355 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Up 0.0%

FLS stock opened at $65.65 on Wednesday. Flowserve Corporation has a one year low of $37.34 and a one year high of $72.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 2.10. The firm’s fifty day moving average is $58.03 and its 200 day moving average is $53.95. The firm has a market cap of $8.34 billion, a PE ratio of 19.08, a P/E/G ratio of 1.38 and a beta of 1.32.

Flowserve (NYSE:FLS) last posted its earnings results 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company posted $0.62 EPS. The company’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. On average, research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on FLS shares. Stifel Nicolaus set a $84.00 price objective on shares of Flowserve in a research note on Thursday, October 30th. Citigroup raised their target price on shares of Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Bank of America restated a “neutral” rating and set a $73.00 target price (up from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.33.

Insiders Place Their Bets

In other Flowserve news, insider Lamar L. Duhon sold 1,609 shares of the firm’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 sale, the insider directly owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s 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 transaction, the insider directly owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. The trade was 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 90 days, insiders have sold 59,276 shares of company stock worth $4,196,578. 0.76% of the stock is owned by corporate insiders.

Flowserve Profile

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.