KBC Group NV Has $180,000 Stock Holdings in Flowserve Corporation $FLS

KBC Group NV reduced its holdings in Flowserve Corporation (NYSE:FLS) by 39.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,445 shares of the industrial products company’s stock after selling 2,231 shares during the quarter. KBC Group NV’s holdings in Flowserve were worth $180,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FLS. Wellington Management Group LLP increased its holdings in Flowserve by 5.4% in the first quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company’s stock valued at $237,185,000 after purchasing an additional 248,273 shares during the period. Boston Partners bought a new stake in shares of Flowserve in the 2nd quarter valued at about $223,247,000. Earnest Partners LLC grew its position in shares of Flowserve by 6.8% in the 1st quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock valued at $133,897,000 after buying an additional 173,528 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Flowserve by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company’s stock valued at $119,332,000 after buying an additional 75,374 shares during the period. Finally, Nuveen LLC bought a new position in shares of Flowserve during the first quarter worth about $111,598,000. Institutional investors own 93.93% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction, the insider directly owned 6,589 shares in the company, valued at $461,295.89. This trade represents a 61.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the sale, the insider directly owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. The trade was a 9.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 59,276 shares of company stock worth $4,196,578. Corporate insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on FLS shares. The Goldman Sachs Group upped their target price on Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Zacks Research cut shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Bank of America reissued a “neutral” rating and set a $73.00 target price (up previously from $60.00) on shares of Flowserve in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $84.00 price target on Flowserve in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.33.

Flowserve Stock Up 2.6%

Shares of NYSE FLS opened at $67.28 on Thursday. 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 firm has a market cap of $8.55 billion, a PE ratio of 19.56, a P/E/G ratio of 1.38 and a beta of 1.32. The company’s fifty day simple moving average is $58.25 and its 200 day simple moving average is $54.04. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $72.08.

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

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.