SG Americas Securities LLC Decreases Stock Position in Flowserve Corporation $FLS

SG Americas Securities LLC trimmed its position in shares of Flowserve Corporation (NYSE:FLS) by 75.6% in the second quarter, Holdings Channel.com reports. The firm owned 17,968 shares of the industrial products company’s stock after selling 55,610 shares during the period. SG Americas Securities LLC’s holdings in Flowserve were worth $941,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC acquired a new stake in shares of Flowserve during the second quarter valued at about $25,000. First Horizon Advisors Inc. purchased a new position in Flowserve in the second quarter valued at about $26,000. Hilltop National Bank acquired a new stake in Flowserve during the 2nd quarter valued at approximately $31,000. IFP Advisors Inc grew its stake in Flowserve by 1,289.6% during the 2nd 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 in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Flowserve by 149.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 418 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flowserve

In related 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Susan Claire Hudson sold 10,667 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the transaction, the insider owned 6,589 shares of the company’s stock, valued at $461,295.89. This represents a 61.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 59,276 shares of company stock worth $4,196,578 over the last ninety days. Company insiders own 0.76% of the company’s stock.

Flowserve Stock Up 2.5%

FLS stock opened at $67.73 on Friday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.38 and a beta of 1.32. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $72.08. The firm has a fifty day moving average price of $58.67 and a two-hundred day moving average price of $54.32. 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 quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm 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. Research analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on FLS shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their price target on shares of Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. UBS Group boosted their target price on shares of Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.33.

Flowserve Company 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.