Lecap Asset Management Ltd. Increases Stake in Flowserve Corporation $FLS

Lecap Asset Management Ltd. lifted its holdings in Flowserve Corporation (NYSE:FLS) by 70.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 33,897 shares of the industrial products company’s stock after purchasing an additional 14,027 shares during the period. Lecap Asset Management Ltd.’s holdings in Flowserve were worth $1,801,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Boston Partners acquired a new position in Flowserve during the 2nd quarter valued at about $223,561,000. AQR Capital Management LLC boosted its holdings in Flowserve by 7.2% in the second quarter. AQR Capital Management LLC now owns 2,939,892 shares of the industrial products company’s stock valued at $153,903,000 after purchasing an additional 197,406 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Flowserve by 8.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,120,075 shares of the industrial products company’s stock worth $110,986,000 after acquiring an additional 165,710 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Flowserve by 78.8% during the 2nd quarter. Fisher Asset Management LLC now owns 1,858,621 shares of the industrial products company’s stock valued at $97,299,000 after purchasing an additional 819,206 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Flowserve by 13.1% in the 2nd 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 purchasing an additional 197,757 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FLS shares. Cowen reaffirmed a “buy” rating on shares of Flowserve in a research note on Tuesday, November 4th. TD Cowen increased their price objective on Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Bank of America reaffirmed a “neutral” rating and set a $73.00 price objective (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. The Goldman Sachs Group increased their target price on shares of Flowserve from $71.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Finally, Royal Bank Of Canada lifted their price objective on Flowserve from $66.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus price target of $78.60.

Flowserve Stock Down 1.2%

Shares of NYSE FLS opened at $71.91 on Thursday. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.30 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 firm has a 50-day moving average price of $70.14 and a 200 day moving average price of $59.42. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $74.63.

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, beating the consensus estimate of $0.80 by $0.10. The firm 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 firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Equities research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

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 issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, December 26th. Flowserve’s dividend payout ratio is currently 24.42%.

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 stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the transaction, the insider directly owned 15,116 shares in the company, valued at $1,050,713.16. This trade represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy B. Schwetz sold 47,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total value of $3,337,940.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,276 shares of company stock worth $4,196,578 in the last 90 days. 0.76% of the stock is owned by company insiders.

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.