479,300 Shares in Flowserve Corporation $FLS Purchased by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC purchased a new stake in shares of Flowserve Corporation (NYSE:FLS) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 479,300 shares of the industrial products company’s stock, valued at approximately $25,091,000.

A number of other large investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its position in shares of Flowserve by 24.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,991 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 1,163 shares during the last quarter. Cetera Investment Advisers raised its stake in Flowserve by 57.2% during the first quarter. Cetera Investment Advisers now owns 15,854 shares of the industrial products company’s stock valued at $774,000 after purchasing an additional 5,769 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Flowserve by 2.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,096 shares of the industrial products company’s stock valued at $1,763,000 after purchasing an additional 914 shares during the last quarter. LPL Financial LLC lifted its position in Flowserve by 5.4% during the first quarter. LPL Financial LLC now owns 70,081 shares of the industrial products company’s stock valued at $3,423,000 after purchasing an additional 3,562 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Flowserve by 585.9% in the 1st quarter. Mackenzie Financial Corp now owns 77,620 shares of the industrial products company’s stock worth $3,791,000 after buying an additional 66,303 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

FLS has been the subject of a number of analyst reports. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. TD Cowen upped their price objective on Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. UBS Group boosted their target price on Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group increased their price target on Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.33.

Insider Buying and Selling

In other news, insider Lamar L. Duhon sold 1,609 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy B. Schwetz sold 47,000 shares of Flowserve stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the sale, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at $3,737,640.56. This represents a 47.18% 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 90 days. Company insiders own 0.76% of the company’s stock.

Flowserve Price Performance

Shares of FLS stock opened at $70.66 on Friday. The stock has a 50 day moving average price of $59.74 and a 200 day moving average price of $54.90. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $72.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 2.10. The firm has a market capitalization of $8.98 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.38 and a beta of 1.32.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. 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 earnings per share for the current 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.