Jefferies Financial Group Inc. Cuts Stake in Flowserve Corporation $FLS

Jefferies Financial Group Inc. lessened its stake in Flowserve Corporation (NYSE:FLS) by 71.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 22,800 shares of the industrial products company’s stock after selling 55,779 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Flowserve were worth $1,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada increased its stake in Flowserve by 135.6% in the 1st quarter. Royal Bank of Canada now owns 349,917 shares of the industrial products company’s stock worth $17,089,000 after acquiring an additional 201,420 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Flowserve by 50.4% in the first quarter. Hsbc Holdings PLC now owns 163,402 shares of the industrial products company’s stock valued at $7,915,000 after purchasing an additional 54,771 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in Flowserve by 96.2% in the first quarter. Atria Wealth Solutions Inc. now owns 11,429 shares of the industrial products company’s stock worth $558,000 after purchasing an additional 5,604 shares during the last quarter. Mandatum Life Insurance Co Ltd purchased a new stake in Flowserve during the second quarter valued at $2,618,000. Finally, Earnest Partners LLC lifted its position in Flowserve by 6.8% during the first quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock valued at $133,897,000 after purchasing an additional 173,528 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 0.5%

FLS opened at $70.66 on Thursday. 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 market cap of $8.98 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.38 and a beta of 1.32. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $72.08. The stock has a fifty day moving average price of $59.48 and a 200-day moving average price of $54.79.

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, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $1.17 billion for 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%.The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, equities research analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Citigroup upped their price objective on Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Royal Bank Of Canada lifted their target price on Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. 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 raised their price target on Flowserve from $64.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and an average price target of $75.33.

Insider Buying and Selling

In other Flowserve news, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction on Tuesday, November 11th. The shares were 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 approximately $1,050,713.16. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction 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 in the company, 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. Insiders sold a total of 59,276 shares of company stock worth $4,196,578 in the last 90 days. 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.