Jacobson & Schmitt Advisors LLC Trims Position in Flowserve Corporation $FLS

Jacobson & Schmitt Advisors LLC decreased its holdings in Flowserve Corporation (NYSE:FLS) by 1.4% in the second quarter, HoldingsChannel.com reports. The fund owned 230,156 shares of the industrial products company’s stock after selling 3,309 shares during the period. Flowserve comprises about 2.1% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 26th largest holding. Jacobson & Schmitt Advisors LLC’s holdings in Flowserve were worth $12,049,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FLS. KPP Advisory Services LLC raised its holdings in Flowserve by 2.3% in the 2nd quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 222 shares in the last quarter. Delta Investment Management LLC increased its position in shares of Flowserve by 3.2% during the first quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company’s stock valued at $374,000 after buying an additional 237 shares during the period. Xponance Inc. raised its stake in Flowserve by 1.8% in the first quarter. Xponance Inc. now owns 15,407 shares of the industrial products company’s stock worth $752,000 after buying an additional 267 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Flowserve by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 36,800 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 300 shares during the period. Finally, Parallel Advisors LLC boosted its position in Flowserve by 74.5% during the 2nd quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 344 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the sale, the insider directly owned 37,196 shares of the company’s stock, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.76% of the company’s stock.

Flowserve Stock Performance

Shares of FLS opened at $69.50 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.62. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.38 and a beta of 1.27. The business’s fifty day simple moving average is $55.24 and its two-hundred day simple moving average is $52.24. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $72.08.

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

Flowserve Dividend Announcement

The firm also recently announced 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 was Friday, September 26th. Flowserve’s payout ratio is 24.42%.

Analyst Ratings Changes

Several research analysts have recently issued reports on FLS shares. Royal Bank Of Canada increased their target price on Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Stifel Nicolaus set a $84.00 price objective on Flowserve in a research report on Thursday, October 30th. Zacks Research downgraded 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 note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $75.63.

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.