Flowserve Corporation $FLS Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its position in Flowserve Corporation (NYSE:FLS) by 23.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,709 shares of the industrial products company’s stock after selling 11,200 shares during the period. Nisa Investment Advisors LLC’s holdings in Flowserve were worth $1,958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. TD Private Client Wealth LLC purchased a new stake in Flowserve in the 2nd quarter worth approximately $25,000. First Horizon Advisors Inc. acquired a new stake in shares of Flowserve during the second quarter worth $26,000. Hilltop National Bank purchased a new stake in shares of Flowserve in the second quarter valued at $31,000. IFP Advisors Inc increased its stake in Flowserve by 1,289.6% in the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 619 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Flowserve by 149.8% during the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock worth $36,000 after buying an additional 418 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 1.3%

Shares of FLS opened at $74.80 on Wednesday. Flowserve Corporation has a one year low of $37.34 and a one year high of $75.13. The stock has a 50-day moving average price of $70.48 and a 200 day moving average price of $60.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10. The company has a market capitalization of $9.51 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.32 and a beta of 1.29.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm posted $0.62 EPS. The firm’s 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. Sell-side analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction on 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. This represents a 47.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Susan Claire Hudson sold 10,667 shares of Flowserve stock in a transaction dated 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 in the company, valued at approximately $461,295.89. The trade was a 61.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 59,276 shares of company stock worth $4,196,578. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

FLS has been the subject of several recent analyst reports. Cowen restated a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. TD Cowen increased their target price on shares of Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Mizuho raised their price target on shares of Flowserve from $60.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. Finally, Bank of America reissued a “neutral” rating and issued a $73.00 price objective (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.90.

About Flowserve

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.