Flowserve Corporation $FLS Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its position in Flowserve Corporation (NYSE:FLS) by 93.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,598 shares of the industrial products company’s stock after purchasing an additional 6,087 shares during the period. ProShare Advisors LLC’s holdings in Flowserve were worth $669,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in Flowserve by 104.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock valued at $230,281,000 after acquiring an additional 2,213,406 shares during the last quarter. Boston Partners purchased a new stake in shares of Flowserve in the second quarter valued at about $223,561,000. AQR Capital Management LLC grew its position in shares of Flowserve by 7.2% in the second quarter. AQR Capital Management LLC now owns 2,939,892 shares of the industrial products company’s stock valued at $153,903,000 after purchasing an additional 197,406 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Flowserve by 78.8% during the 2nd quarter. Fisher Asset Management LLC now owns 1,858,621 shares of the industrial products company’s stock worth $97,299,000 after purchasing an additional 819,206 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Flowserve by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,706,409 shares of the industrial products company’s stock worth $89,331,000 after purchasing an additional 197,757 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Up 0.1%

Shares of NYSE:FLS opened at $89.79 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.50 and a debt-to-equity ratio of 0.68. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 1.99 and a beta of 1.29. The stock’s 50-day moving average price is $76.23 and its two-hundred day moving average price is $64.87. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $90.48.

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

Flowserve Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. This is a boost from Flowserve’s previous quarterly dividend of $0.21. Flowserve’s dividend payout ratio is presently 33.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus increased their target price on Flowserve from $87.00 to $97.00 and gave the company a “buy” rating in a report on Monday, February 9th. UBS Group increased their price objective on Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Citigroup boosted their target price on shares of Flowserve from $85.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Jefferies Financial Group upped their target price on shares of Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, TD Cowen reiterated a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.80.

Flowserve Company 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.