Pacer Advisors Inc. Has $1.26 Million Position in Flowserve Corporation $FLS

Pacer Advisors Inc. grew its position in Flowserve Corporation (NYSE:FLS) by 300.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,702 shares of the industrial products company’s stock after purchasing an additional 17,788 shares during the quarter. Pacer Advisors Inc.’s holdings in Flowserve were worth $1,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada increased its position 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 buying an additional 201,420 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its holdings in shares of Flowserve by 54.4% in the first quarter. Focus Partners Advisor Solutions LLC now owns 5,597 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 1,973 shares in the last quarter. Amundi raised its position in shares of Flowserve by 29.1% during the first quarter. Amundi now owns 163,130 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 36,773 shares during the period. Banque Transatlantique SA bought a new position in shares of Flowserve during the 1st quarter valued at about $113,000. Finally, Ionic Capital Management LLC acquired a new position in shares of Flowserve in the 1st quarter valued at approximately $781,000. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Down 1.0%

Flowserve stock opened at $69.48 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $74.63. The company has a fifty day simple moving average of $68.94 and a 200 day simple moving average of $58.62. The company has a market cap of $8.83 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29.

Flowserve (NYSE:FLS) last posted its quarterly earnings data 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 company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Research analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, December 26th. Flowserve’s dividend payout ratio (DPR) is currently 24.42%.

Wall Street Analysts Forecast Growth

FLS has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. UBS Group raised their price objective on shares of Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Bank of America reaffirmed a “neutral” rating and issued a $73.00 target price (up from $60.00) on shares of Flowserve in a research note on Friday, November 14th. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Stifel Nicolaus set a $84.00 price target on Flowserve in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

Insiders Place Their Bets

In related news, insider Lamar L. Duhon sold 1,609 shares of the firm’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 of the company’s stock, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer directly owned 52,628 shares in the company, valued at $3,737,640.56. This trade represents a 47.18% 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.

About Flowserve

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.