Flowserve Corporation $FLS Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its stake in shares of Flowserve Corporation (NYSE:FLS) by 10.6% during the third quarter, HoldingsChannel reports. The fund owned 228,297 shares of the industrial products company’s stock after selling 27,010 shares during the quarter. Peregrine Capital Management LLC’s holdings in Flowserve were worth $12,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC acquired a new stake in shares of Flowserve in the 2nd quarter valued at about $25,000. First Horizon Advisors Inc. bought a new stake in Flowserve in the second quarter valued at about $26,000. Hilltop National Bank acquired a new stake in Flowserve during the second quarter valued at approximately $31,000. IFP Advisors Inc lifted its holdings in 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 buying an additional 619 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position 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 worth $36,000 after acquiring an additional 418 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Insider Buying and Selling at Flowserve

In other Flowserve news, CFO Amy B. Schwetz sold 47,000 shares of the business’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 completion of the transaction, the chief financial officer owned 52,628 shares in the company, valued at approximately $3,737,640.56. The trade was a 47.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Susan Claire Hudson sold 10,667 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total value of $746,796.67. Following the completion of the transaction, the insider directly owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. The trade was a 61.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,276 shares of company stock valued at $4,196,578 in the last quarter. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America reissued a “neutral” rating and set a $73.00 price target (up from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Mizuho increased their target price on shares of Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday. Jefferies Financial Group lifted their price target on shares of Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. TD Cowen boosted their price objective on shares of Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Cowen reissued a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.60.

Flowserve Stock Up 0.0%

FLS stock opened at $71.84 on Friday. The stock has a market cap of $9.13 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.28 and a beta of 1.29. The firm’s 50-day simple moving average is $70.23 and its 200 day simple moving average is $59.50. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $74.63. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Flowserve (NYSE:FLS) last posted 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. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. Flowserve’s quarterly revenue was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, sell-side analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, December 26th. Flowserve’s dividend payout ratio (DPR) is currently 24.42%.

Flowserve Profile

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.