Flowserve Corporation $FLS Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its stake in Flowserve Corporation (NYSE:FLS) by 59.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,376 shares of the industrial products company’s stock after selling 80,908 shares during the quarter. Magnetar Financial LLC’s holdings in Flowserve were worth $2,943,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 purchasing an additional 2,213,406 shares during the period. Boston Partners purchased a new stake in shares of Flowserve during the 2nd quarter worth about $223,561,000. AQR Capital Management LLC grew its stake in Flowserve by 7.2% during the second quarter. AQR Capital Management LLC now owns 2,939,892 shares of the industrial products company’s stock worth $153,903,000 after buying an additional 197,406 shares during the period. Dimensional Fund Advisors LP boosted its position in Flowserve by 0.9% during the 3rd 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. Finally, JPMorgan Chase & Co. boosted its position in shares of Flowserve by 625.5% in the third quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock worth $122,978,000 after buying an additional 1,995,221 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Performance

NYSE:FLS opened at $78.78 on Thursday. 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 $10.03 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $92.41. The company has a 50-day moving average of $80.70 and a 200-day moving average of $68.37.

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

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a dividend of $0.22 per share. This is an increase from Flowserve’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, March 27th. Flowserve’s dividend payout ratio (DPR) is presently 32.06%.

Analyst Ratings Changes

FLS has been the subject of several analyst reports. Zacks Research upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Jefferies Financial Group boosted their price target on Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Mizuho increased their price objective on shares of Flowserve from $74.00 to $91.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Stifel Nicolaus raised their target price on Flowserve from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Weiss Ratings downgraded Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.80.

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.