Vaughan Nelson Investment Management L.P. Acquires 161,560 Shares of Flowserve Corporation $FLS

Vaughan Nelson Investment Management L.P. lifted its stake in Flowserve Corporation (NYSE:FLS) by 32.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 662,685 shares of the industrial products company’s stock after acquiring an additional 161,560 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.51% of Flowserve worth $35,215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FLS. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Flowserve by 0.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,128 shares of the industrial products company’s stock valued at $2,345,000 after acquiring an additional 200 shares in the last quarter. KPP Advisory Services LLC increased 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 during the period. MJP Associates Inc. ADV raised its stake in shares of Flowserve by 6.2% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,580 shares of the industrial products company’s stock valued at $240,000 after buying an additional 266 shares in the last quarter. GAMMA Investing LLC raised its position 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. Finally, Moody National Bank Trust Division lifted its position in shares of Flowserve by 4.2% during the 3rd quarter. Moody National Bank Trust Division now owns 8,425 shares of the industrial products company’s stock worth $448,000 after buying an additional 337 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FLS shares. Wall Street Zen lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Mizuho raised their price target on Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. TD Cowen increased their price objective on shares of Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Bank of America restated a “neutral” rating and issued a $73.00 target price (up previously from $60.00) on shares of Flowserve in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.60.

Insider Transactions at Flowserve

In related news, insider Lamar L. Duhon sold 1,609 shares of Flowserve 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 sale, the insider 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were 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 $461,295.89. This represents a 61.82% 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 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Flowserve Stock Up 0.3%

Shares of FLS opened at $72.72 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.54. Flowserve Corporation has a one year low of $37.34 and a one year high of $74.63. The company has a market cap of $9.24 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.29 and a beta of 1.29. The firm has a 50 day simple moving average of $70.08 and a two-hundred day simple moving average of $59.33.

Flowserve (NYSE:FLS) last posted 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 net margin of 9.66% and a return on equity of 19.41%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. 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 fiscal year.

Flowserve Announces Dividend

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

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.