RPG Investment Advisory LLC Buys 15,880 Shares of Flowserve Corporation $FLS

RPG Investment Advisory LLC increased its stake in Flowserve Corporation (NYSE:FLS) by 196.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 23,965 shares of the industrial products company’s stock after acquiring an additional 15,880 shares during the period. RPG Investment Advisory LLC’s holdings in Flowserve were worth $1,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Flowserve by 0.5% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,128 shares of the industrial products company’s stock worth $2,345,000 after acquiring an additional 200 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of Flowserve by 0.7% during the third quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock valued at $1,456,000 after purchasing an additional 200 shares in the last quarter. KPP Advisory Services LLC boosted its position in shares of Flowserve by 2.3% during the second quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock valued at $514,000 after purchasing an additional 222 shares in the last quarter. MJP Associates Inc. ADV grew its stake in Flowserve by 6.2% in the second quarter. MJP Associates Inc. ADV now owns 4,580 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 266 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Flowserve by 19.5% in the third quarter. GAMMA Investing LLC now owns 1,663 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 271 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FLS. Zacks Research cut shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Mizuho raised their target price on shares of Flowserve from $60.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday. Citigroup boosted their price target on Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Finally, Bank of America reiterated a “neutral” rating and set a $73.00 price objective (up previously from $60.00) on shares of Flowserve in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.60.

Insider Activity at Flowserve

In related news, 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 of the company’s stock, valued at $461,295.89. This trade represents a 61.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lamar L. Duhon sold 1,609 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,276 shares of company stock valued at $4,196,578 over the last ninety days. Insiders own 0.72% of the company’s stock.

Flowserve Trading Up 0.3%

NYSE:FLS opened at $72.72 on Wednesday. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.29 and a beta of 1.29. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average price is $70.08 and its 200-day moving average price is $59.33. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $74.63.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. On average, equities research analysts forecast that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 26th. Flowserve’s dividend payout ratio is presently 24.42%.

Flowserve Profile

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.