Nicholas Investment Partners LP purchased a new position in shares of Flowserve Corporation (NYSE:FLS – Free Report) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 148,207 shares of the industrial products company’s stock, valued at approximately $10,991,000.
A number of other hedge funds have also recently added to or reduced their stakes in FLS. BlackRock Inc. acquired a new stake in Flowserve in the 2nd quarter valued at about $999,631,000. UBS Group AG lifted its position in shares of Flowserve by 67.8% during the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after purchasing an additional 1,676,284 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Flowserve by 9.9% during the third quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company’s stock worth $171,648,000 after purchasing an additional 290,226 shares in the last quarter. Nuveen LLC grew its stake in shares of Flowserve by 6.1% during the fourth quarter. Nuveen LLC now owns 2,777,288 shares of the industrial products company’s stock valued at $192,688,000 after purchasing an additional 158,661 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Flowserve by 12.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,745,206 shares of the industrial products company’s stock valued at $190,468,000 after purchasing an additional 299,346 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.
Wall Street Analysts Forecast Growth
FLS has been the subject of a number of research reports. Royal Bank Of Canada raised their price target on shares of Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Citigroup reiterated a “buy” rating on shares of Flowserve in a research report on Thursday, April 30th. Robert W. Baird set a $93.00 target price on Flowserve in a research note on Friday, July 31st. Stifel Nicolaus lifted their target price on Flowserve from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, TD Cowen downgraded Flowserve from a “buy” rating to a “hold” rating and dropped their target price for the stock from $85.00 to $70.00 in a research report on Wednesday, June 24th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.60.
Flowserve Stock Up 1.4%
Flowserve stock opened at $80.49 on Tuesday. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.76 and a beta of 1.23. The company’s 50 day simple moving average is $75.14 and its 200 day simple moving average is $77.16. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58. Flowserve Corporation has a fifty-two week low of $48.71 and a fifty-two week high of $92.41.
Flowserve (NYSE:FLS – Get Free Report) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.86 by $0.09. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, sell-side analysts anticipate that Flowserve Corporation will post 4.1 EPS for the current year.
Flowserve Company 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.
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