Magnetar Financial LLC Invests $7.13 Million in Flowserve Corporation $FLS

Magnetar Financial LLC bought a new stake in shares of Flowserve Corporation (NYSE:FLS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 136,284 shares of the industrial products company’s stock, valued at approximately $7,134,000. Magnetar Financial LLC owned about 0.10% of Flowserve as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC acquired a new stake in shares of Flowserve in the 2nd quarter worth $25,000. First Horizon Advisors Inc. purchased a new stake in shares of Flowserve during the second quarter worth about $26,000. Hilltop National Bank purchased a new stake in shares of Flowserve during the second quarter worth about $31,000. IFP Advisors Inc increased its holdings in shares of Flowserve by 1,289.6% during the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 619 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of 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 purchasing an additional 418 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the transaction, the insider directly owned 15,116 shares in the company, valued at $1,050,713.16. The trade was a 9.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $746,796.67. Following 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 SEC filing for this sale provides additional information. In the last 90 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 Price Performance

Shares of FLS opened at $67.73 on Friday. The business’s 50-day moving average is $58.67 and its two-hundred day moving average is $54.26. The company has a market capitalization of $8.61 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.38 and a beta of 1.32. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two 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.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The firm 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 prior year, the business earned $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLS. Cowen reissued a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. 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, November 4th. Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group raised their price objective on Flowserve from $64.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.33.

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.