Freemont Management S.A. Boosts Stock Holdings in Flowserve Corporation $FLS

Freemont Management S.A. raised its holdings in shares of Flowserve Corporation (NYSE:FLS) by 30.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,500 shares of the industrial products company’s stock after acquiring an additional 16,700 shares during the quarter. Freemont Management S.A. owned about 0.05% of Flowserve worth $3,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC bought a new stake in Flowserve in the 2nd quarter worth approximately $25,000. First Horizon Advisors Inc. purchased a new position in shares of Flowserve during the second quarter worth approximately $26,000. Hilltop National Bank bought a new stake in shares of Flowserve in the 2nd quarter worth approximately $31,000. IFP Advisors Inc lifted its holdings in shares of Flowserve by 1,289.6% in the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 619 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Flowserve by 149.8% in the 2nd 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 in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 37,196 shares of the company’s stock, valued at approximately $1,979,571.12. The trade was a 21.19% decrease in their position. The sale 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 transaction of $746,796.67. Following the completion of the transaction, the insider owned 6,589 shares of the company’s stock, valued at $461,295.89. This trade represents a 61.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 67,667 shares of company stock worth $4,616,937 over the last quarter. Corporate insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FLS shares. Citigroup lifted their target price on shares of Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. The Goldman Sachs Group raised their price objective on Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Stifel Nicolaus set a $84.00 target price on Flowserve in a research note on Thursday, October 30th. Cowen restated a “buy” rating on shares of Flowserve in a report on Tuesday. Finally, Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.63.

Flowserve Stock Performance

Flowserve stock opened at $69.35 on Friday. 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 $8.82 billion, a P/E ratio of 20.16, a P/E/G 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 50-day moving average of $56.15 and a 200-day moving average of $52.68.

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

Flowserve Dividend Announcement

The firm 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 of this dividend was Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a yield of 1.2%. Flowserve’s dividend payout ratio (DPR) is presently 24.42%.

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.