Royal Bank of Canada Has $24.74 Million Stake in Flowserve Corporation $FLS

Royal Bank of Canada lowered its stake in Flowserve Corporation (NYSE:FLS) by 60.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 336,596 shares of the industrial products company’s stock after selling 518,272 shares during the quarter. Royal Bank of Canada owned approximately 0.26% of Flowserve worth $24,742,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLS. BOKF NA bought a new position in Flowserve in the 3rd quarter valued at approximately $28,000. Atlas Capital Advisors Inc. acquired a new position in shares of Flowserve during the fourth quarter worth $36,000. Measured Wealth Private Client Group LLC bought a new position in shares of Flowserve in the 3rd quarter valued at $36,000. IFP Advisors Inc lifted its stake in shares of Flowserve by 24.4% in the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 163 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Flowserve by 20.1% during the 3rd 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 in the last quarter. 93.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on FLS. Weiss Ratings cut Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Robert W. Baird set a $93.00 price objective on Flowserve in a research note on Friday. Citigroup reiterated a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Wall Street Zen lowered shares of Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Stifel Nicolaus upped their price target on shares of Flowserve from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and an average price target of $86.60.

Flowserve Trading Up 3.9%

NYSE FLS opened at $79.55 on Wednesday. The firm has a market capitalization of $10.11 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.70 and a beta of 1.23. The business’s 50-day moving average price is $74.00 and its two-hundred day moving average price is $76.96. The company has a current ratio of 2.15, a quick ratio of 1.58 and a debt-to-equity ratio of 0.91. Flowserve Corporation has a 12 month low of $48.71 and a 12 month high of $92.41.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. On average, analysts expect that Flowserve Corporation will post 4.1 EPS for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 1.1%. Flowserve’s dividend payout ratio (DPR) is presently 30.88%.

Insider Transactions at Flowserve

In other news, Director Brian D. Savoy purchased 1,000 shares of the company’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 transaction, 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 filing with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

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.