Flowserve Corporation $FLS Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its holdings in Flowserve Corporation (NYSE:FLS) by 24.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 770,204 shares of the industrial products company’s stock after selling 247,790 shares during the period. Prudential Financial Inc. owned about 0.59% of Flowserve worth $40,320,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Boston Partners bought a new stake in shares of Flowserve in the 2nd quarter worth approximately $223,247,000. Nuveen LLC bought a new position in Flowserve during the 1st quarter worth $111,598,000. Erste Asset Management GmbH increased its position in Flowserve by 978.8% in the first quarter. Erste Asset Management GmbH now owns 1,003,800 shares of the industrial products company’s stock worth $49,025,000 after buying an additional 910,750 shares during the period. William Blair Investment Management LLC lifted its stake in Flowserve by 4,997.4% in the second quarter. William Blair Investment Management LLC now owns 429,256 shares of the industrial products company’s stock valued at $22,472,000 after buying an additional 420,835 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Flowserve by 32.6% in the first quarter. Millennium Management LLC now owns 1,630,226 shares of the industrial products company’s stock valued at $79,620,000 after buying an additional 400,925 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

FLS has been the subject of several recent research reports. Cowen restated a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Stifel Nicolaus set a $84.00 price target on shares of Flowserve in a research note on Thursday, October 30th. 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 report on Thursday, October 30th. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group raised their target price on Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and an average price target of $75.33.

Insider Activity at Flowserve

In other Flowserve news, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total value of $3,337,940.00. Following the completion of the sale, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This represents a 47.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction that occurred 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 position. The SEC filing for this sale provides additional information. Insiders sold 59,276 shares of company stock valued at $4,196,578 over the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

Flowserve Trading Up 1.6%

Flowserve stock opened at $68.85 on Tuesday. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $72.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.50. The stock has a market capitalization of $8.75 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32. The firm has a 50 day simple moving average of $58.91 and a 200-day simple moving average of $54.52.

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 firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. The firm’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, equities research analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve 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.