Norges Bank Purchases New Position in Flowserve Corporation $FLS

Norges Bank acquired a new stake in Flowserve Corporation (NYSE:FLS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,700,253 shares of the industrial products company’s stock, valued at approximately $117,964,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FLS. Northwestern Mutual Wealth Management Co. lifted its position in Flowserve by 1,300.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock worth $14,967,000 after acquiring an additional 189,165 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in Flowserve in the 3rd quarter worth approximately $3,034,000. Dynamic Technology Lab Private Ltd acquired a new stake in Flowserve in the third quarter valued at approximately $2,343,000. Exchange Traded Concepts LLC grew its position in Flowserve by 19.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 128,436 shares of the industrial products company’s stock valued at $8,911,000 after acquiring an additional 20,725 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Flowserve during the third quarter valued at approximately $1,803,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Performance

Shares of FLS opened at $75.47 on Friday. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 1.70 and a beta of 1.22. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $75.56 and its two-hundred day moving average is $76.07. Flowserve Corporation has a 52-week low of $45.11 and a 52-week high of $92.41.

Flowserve (NYSE:FLS) last issued 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 analyst estimates of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Analysts forecast that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.22 dividend. 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 payout ratio is presently 32.59%.

Analysts Set New Price Targets

A number of research analysts have recently commented on FLS shares. TD Cowen reissued a “buy” rating on shares of Flowserve in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Flowserve in a report on Tuesday, March 31st. Wall Street Zen downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Royal Bank Of Canada cut their price objective on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, Robert W. Baird set a $98.00 price objective on shares of Flowserve in a research report on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.70.

Insider Activity

In related news, Director Brian D. Savoy bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the purchase, the director owned 1,000 shares in the company, valued at $67,340. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

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.