Logan Capital Management Inc. Has $1.06 Million Stock Holdings in Flowserve Corporation $FLS

Logan Capital Management Inc. lessened its position in Flowserve Corporation (NYSE:FLS) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 20,170 shares of the industrial products company’s stock after selling 200 shares during the quarter. Logan Capital Management Inc.’s holdings in Flowserve were worth $1,056,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC acquired a new position in shares of Flowserve during the 2nd quarter worth approximately $25,000. Hilltop National Bank acquired a new position in shares of Flowserve during the 2nd quarter worth approximately $31,000. IFP Advisors Inc increased its position in shares of Flowserve by 1,289.6% during the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 619 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Flowserve by 74.5% during the 2nd quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 344 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Flowserve by 71.5% during the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 429 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

FLS has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price target on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Royal Bank Of Canada boosted their price target on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Citigroup lifted their target price on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.88.

Insider Transactions at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the sale, the insider directly owned 37,196 shares in the company, valued at $1,979,571.12. The trade was a 21.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is owned by company insiders.

Flowserve Stock Performance

Shares of NYSE FLS opened at $52.58 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $65.08. The stock has a 50 day moving average of $53.62 and a 200-day moving average of $51.23. The company has a market capitalization of $6.88 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.08 and a beta of 1.27.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, equities research analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a $0.21 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 1.6%. Flowserve’s payout ratio is 38.01%.

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.