Legato Capital Management LLC Takes Position in Flowserve Corporation $FLS

Legato Capital Management LLC acquired a new position in shares of Flowserve Corporation (NYSE:FLS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,099 shares of the industrial products company’s stock, valued at approximately $1,121,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FLS. EverSource Wealth Advisors LLC grew its holdings in Flowserve by 3.9% in the third quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 157 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Flowserve by 0.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,128 shares of the industrial products company’s stock worth $2,345,000 after purchasing an additional 200 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in Flowserve by 0.7% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock worth $1,456,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System increased its position in Flowserve by 0.7% during the 3rd quarter. Arizona State Retirement System now owns 38,689 shares of the industrial products company’s stock valued at $2,056,000 after buying an additional 263 shares in the last quarter. Finally, MJP Associates Inc. ADV increased its position in Flowserve by 6.2% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,580 shares of the industrial products company’s stock valued at $240,000 after buying an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FLS. Weiss Ratings lowered Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada boosted their target price on shares of Flowserve from $83.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Stifel Nicolaus raised their price target on shares of Flowserve from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, February 9th. UBS Group lifted their price objective on shares of Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Zacks Research raised Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $88.80.

Flowserve Stock Down 4.6%

NYSE:FLS opened at $83.51 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.03 and a quick ratio of 1.50. The company’s fifty day moving average price is $79.67 and its 200-day moving average price is $67.36. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $92.41. The firm has a market capitalization of $10.63 billion, a P/E ratio of 31.87, a PEG ratio of 1.94 and a beta of 1.27.

Flowserve (NYSE:FLS) last posted its earnings results on Thursday, February 5th. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.26 billion. Flowserve had a net margin of 7.32% and a return on equity of 21.19%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a dividend of $0.22 per share. This is an increase from Flowserve’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, March 27th. Flowserve’s dividend payout ratio (DPR) is 32.06%.

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.