Hsbc Holdings PLC Has $4.18 Million Stake in Flowserve Corporation $FLS

Hsbc Holdings PLC lifted its position in shares of Flowserve Corporation (NYSE:FLS) by 983.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 57,432 shares of the industrial products company’s stock after buying an additional 52,130 shares during the quarter. Hsbc Holdings PLC’s holdings in Flowserve were worth $4,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Flowserve by 1,300.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock valued at $14,967,000 after buying an additional 189,165 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Flowserve by 19.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 128,436 shares of the industrial products company’s stock worth $8,911,000 after acquiring an additional 20,725 shares during the last quarter. Bullseye Asset Management LLC raised its holdings in shares of Flowserve by 54.5% in the 4th quarter. Bullseye Asset Management LLC now owns 85,000 shares of the industrial products company’s stock worth $5,897,000 after acquiring an additional 30,000 shares during the last quarter. William Blair Investment Management LLC lifted its position in Flowserve by 142.4% in the 4th quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company’s stock valued at $72,720,000 after acquiring an additional 615,769 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Flowserve by 27.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 72,950 shares of the industrial products company’s stock valued at $5,061,000 after purchasing an additional 15,850 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

FLS opened at $72.31 on Friday. The firm has a 50-day moving average price of $73.12 and a 200-day moving average price of $76.86. Flowserve Corporation has a twelve month low of $48.71 and a twelve month high of $92.41. 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 company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.61 and a beta of 1.23.

Flowserve (NYSE:FLS) last announced 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. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Equities analysts expect that Flowserve Corporation will post 4.04 EPS for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a $0.22 dividend. The ex-dividend date was Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Flowserve’s payout ratio is presently 32.59%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus set a $92.00 price target on Flowserve in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. TD Cowen lowered shares of Flowserve from a “buy” rating to a “hold” rating and reduced their target price for the stock from $85.00 to $70.00 in a research note on Wednesday, June 24th. Royal Bank Of Canada reduced their target price on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.70.

Insider Transactions at Flowserve

In other Flowserve news, Director Brian D. Savoy acquired 1,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $67.34 per share, with a total value of $67,340.00. Following the purchase, the director owned 1,000 shares of the company’s stock, valued at approximately $67,340. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by corporate insiders.

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.