Flowserve Corporation $FLS Stake Cut by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its holdings in Flowserve Corporation (NYSE:FLS) by 23.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,003 shares of the industrial products company’s stock after selling 21,963 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.06% of Flowserve worth $3,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC acquired a new position in shares of Flowserve in the 2nd quarter valued at about $25,000. First Horizon Advisors Inc. acquired a new stake in Flowserve during the second quarter worth about $26,000. Hilltop National Bank bought a new position in Flowserve in the second quarter worth about $31,000. IFP Advisors Inc boosted 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 acquiring an additional 619 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in shares of Flowserve by 149.8% during the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 418 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLS has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Stifel Nicolaus set a $84.00 target price on Flowserve in a research report on Thursday, October 30th. Cowen reissued a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.63.

Flowserve Price Performance

Shares of NYSE FLS opened at $69.75 on Tuesday. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.38 and a beta of 1.32. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $72.08. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $56.47 and a two-hundred day moving average of $53.01.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.Flowserve’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 26th. Flowserve’s payout ratio is presently 24.42%.

Insider Transactions at Flowserve

In related news, insider Susan Claire Hudson sold 10,667 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the sale, the insider directly 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy B. Schwetz sold 47,000 shares of the firm’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 transaction of $3,337,940.00. Following the transaction, the chief financial officer directly owned 52,628 shares in the company, valued at approximately $3,737,640.56. The trade was a 47.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.76% of the stock is owned by corporate 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.