First Trust Advisors LP Acquires 124,599 Shares of Flowserve Corporation $FLS

First Trust Advisors LP raised its holdings in Flowserve Corporation (NYSE:FLS) by 32.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 511,054 shares of the industrial products company’s stock after acquiring an additional 124,599 shares during the quarter. First Trust Advisors LP’s holdings in Flowserve were worth $37,567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BOKF NA bought a new position in Flowserve during the third quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new position in Flowserve during the 3rd quarter worth approximately $36,000. Atlas Capital Advisors Inc. acquired a new position in Flowserve during the 4th quarter worth approximately $36,000. IFP Advisors Inc boosted its holdings in Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 163 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Flowserve by 20.1% in the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 162 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

NYSE FLS opened at $72.63 on Tuesday. The company has a fifty day moving average price of $73.25 and a 200-day moving average price of $76.89. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.63 and a beta of 1.23. 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 $48.71 and a 1 year high of $92.41.

Flowserve (NYSE:FLS) last released its quarterly 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. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $0.72 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities research analysts predict that Flowserve Corporation will post 4.04 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Flowserve’s dividend payout ratio (DPR) is currently 32.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FLS. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Royal Bank Of Canada lowered their target price 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $83.00 price target on shares of Flowserve in a research note on Thursday, April 30th. Stifel Nicolaus set a $92.00 price objective on Flowserve in a report on Friday, May 1st. Finally, TD Cowen lowered Flowserve from a “buy” rating to a “hold” rating and dropped their target price for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.70.

Insider Buying and Selling at Flowserve

In other Flowserve news, Director Brian D. Savoy bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $67,340. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is owned by insiders.

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.