Russell Investments Group Ltd. Raises Stake in Flowserve Corporation $FLS

Russell Investments Group Ltd. boosted its stake in Flowserve Corporation (NYSE:FLS) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 256,304 shares of the industrial products company’s stock after purchasing an additional 4,905 shares during the quarter. Russell Investments Group Ltd.’s holdings in Flowserve were worth $13,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLS. Inceptionr LLC bought a new position in shares of Flowserve in the second quarter valued at approximately $430,000. Boston Partners purchased a new stake in Flowserve in the 2nd quarter worth approximately $223,561,000. Elo Mutual Pension Insurance Co boosted its holdings in Flowserve by 25.3% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 26,610 shares of the industrial products company’s stock valued at $1,393,000 after purchasing an additional 5,373 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of Flowserve by 18.3% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 30,237 shares of the industrial products company’s stock valued at $1,583,000 after purchasing an additional 4,677 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Flowserve during the 2nd quarter valued at $18,092,000. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

Shares of NYSE FLS opened at $70.68 on Tuesday. The stock’s 50-day moving average is $60.31 and its 200 day moving average is $55.22. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.38 and a beta of 1.32. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $72.08. 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 issued its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.Flowserve’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. On average, sell-side analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Insider Activity at Flowserve

In other news, CFO Amy B. Schwetz sold 47,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the transaction, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This trade represents a 47.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan Claire Hudson sold 10,667 shares of Flowserve stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total value of $746,796.67. Following the completion of the transaction, the insider owned 6,589 shares in the company, valued at approximately $461,295.89. This represents a 61.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 59,276 shares of company stock valued at $4,196,578. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group raised 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. Citigroup boosted their price objective on Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Wall Street Zen downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, TD Cowen lifted their target price on shares of Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.33.

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.