Flowserve (NYSE:FLS) Insider Sells $746,796.67 in Stock

Flowserve Corporation (NYSE:FLS) insider Susan Claire Hudson sold 10,667 shares of the business’s stock in a transaction dated 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 sale, the insider owned 6,589 shares in the company, valued at $461,295.89. This represents a 61.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Flowserve Price Performance

Shares of Flowserve stock opened at $69.35 on Friday. The firm has a market cap of $8.82 billion, a PE ratio of 20.16, a PEG ratio of 1.38 and a beta of 1.32. The stock has a 50 day moving average of $56.15 and a 200 day moving average of $52.68. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.62. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $72.08.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. On average, research analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal 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 dividend of $0.21 per share. 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 is presently 24.42%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLS. TD Cowen lifted their price objective on shares of Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup increased their price target on shares of Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 30th. UBS Group lifted their price target on Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank Of Canada boosted their price objective on Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Stifel Nicolaus set a $84.00 price objective on Flowserve in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.63.

Hedge Funds Weigh In On Flowserve

Several hedge funds have recently bought and sold shares of the business. TD Private Client Wealth LLC bought a new stake in shares of Flowserve during the second quarter worth $25,000. First Horizon Advisors Inc. bought a new position in shares of Flowserve in the second quarter worth about $26,000. Hilltop National Bank purchased a new position in Flowserve in the 2nd quarter worth about $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 valued at $35,000 after buying an additional 619 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in 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 buying an additional 418 shares during the period. Institutional investors own 93.93% of the company’s stock.

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.