Swiss National Bank Reduces Position in Flowserve Corporation $FLS

Swiss National Bank trimmed its holdings in Flowserve Corporation (NYSE:FLS) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,600 shares of the industrial products company’s stock after selling 2,900 shares during the period. Swiss National Bank’s holdings in Flowserve were worth $13,171,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FLS. Royal Bank of Canada increased its holdings in shares of Flowserve by 135.6% in 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 acquiring an additional 201,420 shares during the last quarter. Hsbc Holdings PLC raised 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 acquiring an additional 54,771 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of Flowserve by 96.2% during the 1st quarter. Atria Wealth Solutions Inc. now owns 11,429 shares of the industrial products company’s stock worth $558,000 after purchasing an additional 5,604 shares during the period. Mandatum Life Insurance Co Ltd acquired a new stake in Flowserve in the second quarter worth $2,618,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Flowserve in the 1st quarter valued at about $9,270,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FLS. Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Citigroup increased their target price on shares of Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. UBS Group lifted their price objective on shares of Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.33.

Flowserve Stock Up 0.5%

FLS opened at $70.66 on Friday. The business has a 50 day moving average price of $59.74 and a 200 day moving average price of $54.90. 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 Corporation has a twelve month low of $37.34 and a twelve month high of $72.08. The firm has a market cap of $8.98 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The business 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%. Flowserve’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current year.

Insider Buying and Selling at Flowserve

In other Flowserve news, CFO Amy B. Schwetz sold 47,000 shares of Flowserve stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total value of $3,337,940.00. Following the transaction, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at $3,737,640.56. The trade was a 47.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction that occurred 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 owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. This trade represents a 61.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,276 shares of company stock valued at $4,196,578 in the last 90 days. 0.76% of the stock is currently owned by insiders.

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.