Los Angeles Capital Management LLC Increases Stock Position in Flowserve Corporation $FLS

Los Angeles Capital Management LLC lifted its holdings in Flowserve Corporation (NYSE:FLSFree Report) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 296,330 shares of the industrial products company’s stock after purchasing an additional 6,898 shares during the period. Los Angeles Capital Management LLC’s holdings in Flowserve were worth $19,958,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FLS. Goldman Sachs Group Inc. lifted its position in shares of Flowserve by 48.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock worth $23,047,000 after purchasing an additional 153,553 shares during the period. Sivia Capital Partners LLC acquired a new stake in Flowserve in the second quarter valued at approximately $313,000. First Trust Advisors LP boosted its stake in Flowserve by 6.0% in the second quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company’s stock valued at $7,040,000 after acquiring an additional 7,624 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Flowserve by 24.1% in the second quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company’s stock valued at $749,000 after acquiring an additional 2,769 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Flowserve by 10.5% in the second quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company’s stock valued at $12,190,000 after acquiring an additional 22,108 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FLS. Citigroup restated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Mizuho raised their target price on shares of Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research note on Friday, May 1st. Royal Bank Of Canada lowered their target price on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Jefferies Financial Group restated a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Flowserve in a research note on Tuesday, March 31st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.70.

Get Our Latest Research Report on FLS

Insider Activity

In related news, Director Brian D. Savoy purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $67.34 per share, with a total value of $67,340.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Flowserve Trading Down 0.1%

NYSE FLS opened at $73.41 on Monday. The company has a fifty day simple moving average of $75.50 and a two-hundred day simple moving average of $76.12. The stock has a market cap of $9.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.65 and a beta of 1.22. Flowserve Corporation has a 12-month low of $45.11 and a 12-month high of $92.41. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73.

Flowserve (NYSE:FLSGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, analysts forecast that Flowserve Corporation will post 4.05 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. Flowserve’s dividend payout ratio (DPR) is currently 32.59%.

Flowserve Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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