Clearline Capital LP Reduces Position in Flowserve Corporation $FLS

Clearline Capital LP trimmed its holdings in Flowserve Corporation (NYSE:FLS) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 642,290 shares of the industrial products company’s stock after selling 62,976 shares during the period. Flowserve accounts for about 1.6% of Clearline Capital LP’s portfolio, making the stock its 4th biggest holding. Clearline Capital LP’s holdings in Flowserve were worth $34,131,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. BOKF NA bought a new stake in Flowserve in the 3rd quarter valued at $28,000. Bruce G. Allen Investments LLC acquired a new stake in Flowserve during the 3rd quarter valued at $40,000. Parallel Advisors LLC boosted its position in Flowserve by 20.1% during the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 162 shares during the period. Toth Financial Advisory Corp acquired a new position in shares of Flowserve in the third quarter valued at $53,000. Finally, CENTRAL TRUST Co acquired a new position in shares of Flowserve in the third quarter valued at $61,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Trading Down 1.9%

Shares of NYSE:FLS opened at $74.22 on Friday. The business’s 50 day simple moving average is $80.89 and its 200 day simple moving average is $68.67. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $92.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.03 and a quick ratio of 1.50. The company has a market capitalization of $9.45 billion, a P/E ratio of 28.33, a P/E/G ratio of 1.65 and a beta of 1.27.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.22 billion during 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 company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. This is a boost from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, March 27th. Flowserve’s payout ratio is presently 32.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $88.00 target price on shares of Flowserve in a research note on Monday, February 9th. Mizuho increased their price target on shares of Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Zacks Research upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Robert W. Baird set a $98.00 price objective on Flowserve in a report on Monday, February 9th. Finally, Wall Street Zen downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, eight have assigned 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 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.