New Age Alpha Advisors LLC grew its holdings in shares of Flowserve Corporation (NYSE:FLS – Free Report) by 701.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,944 shares of the industrial products company’s stock after purchasing an additional 30,582 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Flowserve were worth $2,424,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FLS. BOKF NA bought a new position in Flowserve during the third quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new position in Flowserve during the third quarter worth about $36,000. IFP Advisors Inc boosted its position in Flowserve by 24.4% during the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 163 shares during the period. Parallel Advisors LLC boosted its position in Flowserve by 20.1% during the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 162 shares during the period. Finally, CENTRAL TRUST Co bought a new position in shares of Flowserve in the third quarter valued at approximately $61,000. Institutional investors own 93.93% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on FLS. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Stifel Nicolaus set a $92.00 price objective on shares of Flowserve in a research report on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Flowserve in a research report on Thursday, April 30th. Wall Street Zen lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings lowered shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $87.70.
Insider Activity at Flowserve
In other Flowserve news, Director Brian D. Savoy purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the purchase, the director owned 1,000 shares of the company’s stock, valued at $67,340. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.71% of the company’s stock.
Flowserve Trading Up 5.3%
Shares of FLS opened at $73.32 on Wednesday. The firm’s 50 day simple moving average is $75.41 and its 200 day simple moving average is $75.76. The company has a market capitalization of $9.37 billion, a P/E ratio of 27.16, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63. Flowserve Corporation has a 1-year low of $45.11 and a 1-year high of $92.41.
Flowserve (NYSE:FLS – Get Free Report) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. Flowserve’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Sell-side analysts forecast that Flowserve Corporation will post 4.05 earnings per share for the current fiscal year.
Flowserve Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Flowserve’s dividend payout ratio (DPR) is 32.59%.
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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