634,613 Shares in Flowserve Corporation $FLS Purchased by M.D. Sass LLC

M.D. Sass LLC purchased a new stake in Flowserve Corporation (NYSE:FLS) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 634,613 shares of the industrial products company’s stock, valued at approximately $47,063,000. Flowserve accounts for approximately 3.1% of M.D. Sass LLC’s holdings, making the stock its 19th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Flowserve during the second quarter valued at about $34,000. Global Retirement Partners LLC purchased a new position in shares of Flowserve in the 2nd quarter worth approximately $38,000. Atlas Capital Advisors Inc. bought a new position in shares of Flowserve during the 4th quarter worth approximately $36,000. BOKF NA purchased a new position in Flowserve in the third quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Flowserve in the 3rd quarter worth $36,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Down 2.5%

Shares of FLS opened at $78.98 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.58 and a debt-to-equity ratio of 0.91. The firm has a market cap of $10.04 billion, a P/E ratio of 27.71, a PEG ratio of 1.80 and a beta of 1.23. The stock’s 50 day moving average is $75.01 and its two-hundred day moving average is $77.16. Flowserve Corporation has a 12 month low of $48.71 and a 12 month high of $92.41.

Flowserve (NYSE:FLS) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. Analysts predict that Flowserve Corporation will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLS has been the topic of several recent analyst reports. Robert W. Baird set a $93.00 price objective on shares of Flowserve in a report on Friday, July 31st. The Goldman Sachs Group set a $82.00 price objective on Flowserve in a research note on Thursday, July 30th. Royal Bank Of Canada lifted their price objective on shares of Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Flowserve from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Citigroup restated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.60.

About Flowserve

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.