Insider Selling: Flowserve (NYSE:FLS) CFO Sells $3,337,940.00 in Stock

Flowserve Corporation (NYSE:FLS) CFO Amy Schwetz sold 47,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the transaction, the chief financial officer owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This represents a 47.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Flowserve Stock Down 0.3%

Shares of FLS stock opened at $69.35 on Friday. The stock has a market cap of $8.82 billion, a P/E ratio of 20.16, a PEG ratio of 1.38 and a beta of 1.32. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $72.08. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $56.15 and its two-hundred day simple moving average is $52.68.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, beating 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 return on equity of 19.41% and a net margin of 9.66%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Analysts predict that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 26th. Flowserve’s dividend payout ratio is 24.42%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. TD Cowen raised their target price on shares of Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Research cut shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $84.00 price objective on Flowserve in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.63.

Hedge Funds Weigh In On Flowserve

Large investors have recently made changes to their positions in the company. TD Private Client Wealth LLC purchased a new stake in Flowserve in the 2nd quarter worth about $25,000. First Horizon Advisors Inc. purchased a new stake in shares of Flowserve in the second quarter worth approximately $26,000. Hilltop National Bank purchased a new stake in shares of Flowserve in the second quarter worth approximately $31,000. IFP Advisors Inc lifted its stake 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 acquiring an additional 619 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted 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 valued at $36,000 after acquiring an additional 418 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.