Olympiad Research LP Lowers Stock Position in Flowserve Corporation $FLS

Olympiad Research LP cut its stake in shares of Flowserve Corporation (NYSE:FLS) by 23.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,681 shares of the industrial products company’s stock after selling 1,436 shares during the quarter. Olympiad Research LP’s holdings in Flowserve were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. Wellington Management Group LLP boosted its position in shares of Flowserve by 5.4% in the first quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company’s stock worth $237,185,000 after purchasing an additional 248,273 shares during the period. Boston Partners bought a new stake in Flowserve during the second quarter valued at about $223,247,000. Earnest Partners LLC lifted its position in shares of Flowserve by 6.8% in the first quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock valued at $133,897,000 after acquiring an additional 173,528 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Flowserve by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company’s stock worth $119,332,000 after acquiring an additional 75,374 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Flowserve during the first quarter worth about $111,598,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

FLS stock opened at $68.06 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.38 and a beta of 1.32. The business’s fifty day simple moving average is $57.39 and its two-hundred day simple moving average is $53.40. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $72.08.

Flowserve (NYSE:FLS) last posted its quarterly 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 company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Analyst Ratings Changes

FLS has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. TD Cowen upped their target price 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. UBS Group lifted their price target on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Zacks Research cut shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Finally, The Goldman Sachs Group raised their price objective on Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.33.

Insider Transactions at Flowserve

In related news, insider Susan Claire Hudson sold 10,667 shares of the business’s stock in a transaction 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 directly owned 6,589 shares in the company, valued at $461,295.89. The trade was a 61.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lamar L. Duhon sold 1,609 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total value of $111,841.59. Following the sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 59,276 shares of company stock worth $4,196,578. Insiders own 0.72% of the company’s stock.

Flowserve Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.