338,154 Shares in Flowserve Corporation $FLS Purchased by Paradice Investment Management LLC

Paradice Investment Management LLC acquired a new position in shares of Flowserve Corporation (NYSE:FLS) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 338,154 shares of the industrial products company’s stock, valued at approximately $17,970,000. Flowserve accounts for about 4.0% of Paradice Investment Management LLC’s holdings, making the stock its 12th biggest position.

Other hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC acquired a new stake in shares of Flowserve during the 2nd quarter worth approximately $25,000. First Horizon Advisors Inc. bought a new position in Flowserve in the second quarter valued at approximately $26,000. Hilltop National Bank acquired a new stake in Flowserve during the 2nd quarter worth $31,000. IFP Advisors Inc grew its holdings in Flowserve by 1,289.6% during the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 619 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of Flowserve by 149.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 418 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the topic of several recent research reports. Jefferies Financial Group raised their price target on Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Wall Street Zen cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Royal Bank Of Canada boosted their target price on Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Finally, Citigroup boosted their price objective on shares of Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a report 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 assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.20.

Flowserve Trading Down 0.9%

NYSE:FLS opened at $70.37 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.54. The business’s 50-day simple moving average is $67.89 and its 200-day simple moving average is $58.30. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $74.63. The stock has a market capitalization of $8.95 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.43 and a beta of 1.30.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the business earned $0.62 EPS. Flowserve’s revenue for the quarter was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Sell-side analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors 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 is Friday, December 26th. Flowserve’s dividend payout ratio (DPR) is presently 24.42%.

Insider Activity at Flowserve

In related news, insider Lamar L. Duhon sold 1,609 shares of the business’s 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 sale, the insider directly owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. The trade was a 9.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy B. Schwetz sold 47,000 shares of the stock in a transaction dated 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 trade represents a 47.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 59,276 shares of company stock valued at $4,196,578. 0.72% of the stock is owned by corporate 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.