Principal Financial Group Inc. Has $20.84 Million Stock Holdings in Flowserve Corporation $FLS

Principal Financial Group Inc. increased its position in shares of Flowserve Corporation (NYSE:FLS) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,570 shares of the industrial products company’s stock after acquiring an additional 10,167 shares during the quarter. Principal Financial Group Inc.’s holdings in Flowserve were worth $20,845,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FLS. Atlas Capital Advisors Inc. acquired a new stake in Flowserve in the fourth quarter worth about $36,000. BOKF NA acquired a new position in Flowserve during the 3rd quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new position in Flowserve during the 3rd quarter valued at about $36,000. IFP Advisors Inc boosted 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 purchasing an additional 163 shares during the last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of Flowserve by 96.7% in the 1st quarter. Root Financial Partners LLC now owns 944 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 464 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

Flowserve stock opened at $67.39 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $8.61 billion, a P/E ratio of 24.96, a PEG ratio of 1.50 and a beta of 1.23. The business has a 50-day moving average of $72.85 and a 200-day moving average of $76.89. Flowserve Corporation has a 1 year low of $48.71 and a 1 year high of $92.41.

Flowserve (NYSE:FLS) last announced 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company posted $0.72 EPS. Flowserve’s revenue for the quarter was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, equities analysts anticipate that Flowserve Corporation will post 4.05 EPS for the current 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 issued a $0.22 dividend. The ex-dividend date was Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 1.3%. Flowserve’s dividend payout ratio (DPR) is 32.59%.

Insiders Place Their Bets

In other news, Director Brian D. Savoy purchased 1,000 shares of Flowserve stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $67,340. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FLS. TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and dropped their price target for the stock from $85.00 to $70.00 in a research note on Wednesday, June 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Flowserve in a research note on Tuesday, March 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 target price on shares of Flowserve in a report on Thursday, April 30th. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research report on Friday, May 1st. Finally, Citigroup reissued a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.70.

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.