300,238 Shares in Flowserve Corporation $FLS Bought by Swedbank AB

Swedbank AB bought a new stake in shares of Flowserve Corporation (NYSE:FLS) during the 1st quarter, Holdings Channel reports. The institutional investor bought 300,238 shares of the industrial products company’s stock, valued at approximately $22,070,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOKF NA purchased a new position in shares of Flowserve in the 3rd quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in Flowserve during the 3rd quarter valued at approximately $36,000. Atlas Capital Advisors Inc. acquired a new position in Flowserve during the 4th quarter valued at approximately $36,000. IFP Advisors Inc raised its holdings in shares of Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after buying an additional 163 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of 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 buying an additional 162 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Price Performance

Shares of NYSE FLS opened at $69.78 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. The firm has a fifty day moving average of $73.55 and a 200 day moving average of $77.01. The firm has a market cap of $8.92 billion, a PE ratio of 25.84, a PEG ratio of 1.55 and a beta of 1.23. Flowserve Corporation has a one year low of $48.71 and a one year high of $92.41.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, research analysts predict that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, June 26th. Flowserve’s payout ratio is presently 32.59%.

Insider Transactions at Flowserve

In other news, Director Brian D. Savoy acquired 1,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the purchase, the director owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLS. Royal Bank Of Canada reduced their target price on Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Wall Street Zen downgraded Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Flowserve in a research note on Thursday, April 30th. Weiss Ratings cut shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Finally, TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and dropped their price objective for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and an average 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.