Rhumbline Advisers Sells 6,618 Shares of Flowserve Corporation $FLS

Rhumbline Advisers decreased its holdings in Flowserve Corporation (NYSE:FLS) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 366,753 shares of the industrial products company’s stock after selling 6,618 shares during the period. Rhumbline Advisers’ holdings in Flowserve were worth $19,199,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FLS. Royal Bank of Canada increased its position in shares of Flowserve by 135.6% during the 1st quarter. Royal Bank of Canada now owns 349,917 shares of the industrial products company’s stock valued at $17,089,000 after purchasing an additional 201,420 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Flowserve by 50.4% during the first quarter. Hsbc Holdings PLC now owns 163,402 shares of the industrial products company’s stock worth $7,915,000 after buying an additional 54,771 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in shares of Flowserve by 96.2% in the 1st quarter. Atria Wealth Solutions Inc. now owns 11,429 shares of the industrial products company’s stock worth $558,000 after acquiring an additional 5,604 shares during the last quarter. Mandatum Life Insurance Co Ltd purchased a new position in shares of Flowserve during the 2nd quarter worth about $2,618,000. Finally, Pinnacle Wealth Management LLC purchased a new position in shares of Flowserve during the first quarter valued at approximately $674,000. 93.93% of the stock is owned by institutional investors.

Insider Activity

In other Flowserve news, insider Susan Claire Hudson sold 10,667 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the completion of the sale, the insider directly owned 6,589 shares in the company, valued at $461,295.89. This trade represents a 61.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the transaction, the insider directly owned 15,116 shares in the company, valued at $1,050,713.16. This represents a 9.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 59,276 shares of company stock worth $4,196,578. Corporate insiders own 0.76% of the company’s stock.

Flowserve Stock Up 0.5%

Shares of NYSE FLS opened at $70.66 on Friday. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $72.08. The stock’s fifty day simple moving average is $59.74 and its two-hundred day simple moving average is $54.90. The stock has a market capitalization of $8.98 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32. 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 (NYSE:FLS) last released its quarterly 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 return on equity of 19.41% and a net margin of 9.66%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $0.62 EPS. The business’s revenue for the quarter 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, analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLS. Citigroup increased their price target on Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Bank of America restated a “neutral” rating and issued a $73.00 price target (up from $60.00) on shares of Flowserve in a report on Friday, November 14th. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.33.

Flowserve Company Profile

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.