McGowan Group Asset Management Inc. Makes New $25.35 Million Investment in Flowserve Corporation $FLS

McGowan Group Asset Management Inc. bought a new position in shares of Flowserve Corporation (NYSE:FLS) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 365,386 shares of the industrial products company’s stock, valued at approximately $25,351,000. Flowserve makes up 3.1% of McGowan Group Asset Management Inc.’s investment portfolio, making the stock its 10th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in Flowserve by 104.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock worth $230,281,000 after acquiring an additional 2,213,406 shares during the last quarter. UBS Group AG grew its holdings in Flowserve by 67.8% during the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock valued at $220,367,000 after purchasing an additional 1,676,284 shares during the period. AQR Capital Management LLC increased its stake in Flowserve by 9.9% in the third quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company’s stock valued at $171,648,000 after purchasing an additional 290,226 shares in the last quarter. Earnest Partners LLC raised its holdings in Flowserve by 5.0% in the third quarter. Earnest Partners LLC now owns 2,885,879 shares of the industrial products company’s stock worth $153,356,000 after purchasing an additional 136,867 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Flowserve by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,445,860 shares of the industrial products company’s stock worth $129,974,000 after purchasing an additional 20,884 shares during the period. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Up 1.8%

Flowserve stock opened at $83.38 on Friday. The company has a 50 day moving average of $80.47 and a 200-day moving average of $73.50. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.68. Flowserve Corporation has a twelve month low of $43.47 and a twelve month high of $92.41. The stock has a market capitalization of $10.66 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.82 and a beta of 1.33.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Thursday, February 5th. The industrial products company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates 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 last year, the business posted $0.70 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, equities research analysts anticipate that Flowserve Corporation will post 4.09 EPS for the current fiscal year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. This is a positive change from Flowserve’s previous quarterly dividend of $0.21. Flowserve’s dividend payout ratio (DPR) is 33.59%.

Analysts Set New Price Targets

FLS has been the subject of several research analyst reports. Weiss Ratings lowered shares of Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, February 18th. The Goldman Sachs Group reiterated a “neutral” rating and set a $88.00 target price on shares of Flowserve in a report on Monday, February 9th. Wall Street Zen cut Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus increased their price target on Flowserve from $97.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Robert W. Baird set a $98.00 price target on Flowserve in a research report on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $89.70.

About Flowserve

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.