Vaughan Nelson Investment Management L.P. Raises Position in Flowserve Corporation $FLS

Vaughan Nelson Investment Management L.P. grew its holdings in Flowserve Corporation (NYSE:FLS) by 32.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor 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.’s holdings in Flowserve were worth $35,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Partners bought a new stake in shares of Flowserve in the 2nd quarter worth $223,561,000. AQR Capital Management LLC increased its holdings in Flowserve by 7.2% in the 2nd quarter. AQR Capital Management LLC now owns 2,939,892 shares of the industrial products company’s stock worth $153,903,000 after acquiring an additional 197,406 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Flowserve by 8.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,120,075 shares of the industrial products company’s stock valued at $110,986,000 after purchasing an additional 165,710 shares during the period. Fisher Asset Management LLC lifted its position in shares of Flowserve by 78.8% in the second quarter. Fisher Asset Management LLC now owns 1,858,621 shares of the industrial products company’s stock valued at $97,299,000 after acquiring an additional 819,206 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Flowserve by 13.1% during the second quarter. Bank of New York Mellon Corp now owns 1,706,409 shares of the industrial products company’s stock valued at $89,331,000 after buying an additional 197,757 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insider Transactions at Flowserve

In related news, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the completion of the sale, the chief financial officer owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This represents a 47.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the sale, the insider owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. The trade was a 61.82% decrease in their position. 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 over the last ninety days. Insiders own 0.72% of the company’s stock.

Flowserve Stock Performance

FLS opened at $72.72 on Wednesday. The firm has a fifty day moving average price of $70.08 and a 200 day moving average price of $59.33. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $74.63. The stock 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 company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.54.

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

Flowserve Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FLS shares. UBS Group upped their target price on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Mizuho upped their target price on shares of Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup raised their price target on Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Bank of America reiterated a “neutral” rating and issued a $73.00 price target (up from $60.00) on shares of Flowserve in a report on Friday, November 14th. Finally, Stifel Nicolaus set a $84.00 price objective on shares of Flowserve in a research note on Thursday, October 30th. One equities research 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 stock. Based on data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $78.60.

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.