Oppenheimer Asset Management Inc. Increases Stock Position in Flowserve Corporation $FLS

Oppenheimer Asset Management Inc. increased its position in shares of Flowserve Corporation (NYSE:FLS) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,142 shares of the industrial products company’s stock after purchasing an additional 7,247 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Flowserve were worth $2,771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners bought a new stake in Flowserve during the second quarter worth $223,561,000. Massachusetts Financial Services Co. MA raised 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. Norges Bank purchased a new position in shares of Flowserve in the 2nd quarter worth about $88,247,000. Third Point LLC bought a new position in Flowserve during the second quarter valued at about $62,558,000. Finally, Merewether Investment Management LP purchased a new stake in Flowserve during the second quarter worth about $46,555,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FLS. TD Cowen reiterated a “buy” rating on shares of Flowserve in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a report on Thursday, January 22nd. Royal Bank Of Canada lifted their target price on shares of Flowserve from $83.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group boosted their price target on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $88.00 price objective on shares of Flowserve in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.80.

Flowserve Stock Up 0.6%

FLS stock opened at $87.03 on Friday. The stock has a 50-day simple moving average of $75.15 and a two-hundred day simple moving average of $64.02. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $89.25. The firm has a market capitalization of $11.06 billion, a PE ratio of 33.22, a PEG ratio of 1.92 and a beta of 1.29. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.68.

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

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, December 26th. Flowserve’s payout ratio is presently 32.06%.

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.