Flowserve Corporation $FLS Holdings Trimmed by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its stake in Flowserve Corporation (NYSE:FLS) by 23.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,709 shares of the industrial products company’s stock after selling 11,200 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Flowserve were worth $1,958,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lecap Asset Management Ltd. grew its holdings in Flowserve by 70.6% during the third quarter. Lecap Asset Management Ltd. now owns 33,897 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 14,027 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Flowserve by 274.5% in the third quarter. SG Americas Securities LLC now owns 67,292 shares of the industrial products company’s stock worth $3,576,000 after purchasing an additional 49,324 shares during the period. RPG Investment Advisory LLC lifted its stake in shares of Flowserve by 196.4% in the third quarter. RPG Investment Advisory LLC now owns 23,965 shares of the industrial products company’s stock valued at $1,274,000 after buying an additional 15,880 shares during the period. KLP Kapitalforvaltning AS raised its holdings in shares of Flowserve by 0.7% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock worth $1,456,000 after buying an additional 200 shares in the last quarter. Finally, New Century Financial Group LLC acquired a new stake in Flowserve in the 3rd quarter valued at about $1,189,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FLS. Mizuho raised their price objective on Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Zacks Research cut shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Citigroup lifted their price target on Flowserve from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. UBS Group raised their price objective on Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group boosted their target price on Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.90.

Flowserve Price Performance

Shares of NYSE:FLS opened at $74.80 on Wednesday. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $75.13. The stock has a market capitalization of $9.51 billion, a PE ratio of 21.74, a PEG ratio of 1.32 and a beta of 1.29. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $70.48 and a 200-day moving average of $60.16.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter 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. On average, equities research analysts predict that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $0.84 annualized dividend and a dividend yield of 1.1%. Flowserve’s dividend payout ratio (DPR) is presently 24.42%.

Insider Transactions at Flowserve

In related news, insider Lamar L. Duhon sold 1,609 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total value of $111,841.59. Following the sale, the insider owned 15,116 shares of the company’s stock, valued at $1,050,713.16. The trade was a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the sale, the insider directly owned 6,589 shares in the company, valued at approximately $461,295.89. This represents a 61.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 59,276 shares of company stock worth $4,196,578. Company insiders own 0.72% of the company’s stock.

Flowserve Company 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.