Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Flowserve Corporation $FLS

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Flowserve Corporation (NYSE:FLS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,234 shares of the industrial products company’s stock, valued at approximately $826,000.

A number of other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in Flowserve by 48.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock valued at $23,047,000 after purchasing an additional 153,553 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Flowserve during the second quarter worth $313,000. First Trust Advisors LP increased its holdings in shares of Flowserve by 6.0% during the second quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company’s stock worth $7,040,000 after buying an additional 7,624 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of Flowserve by 24.1% in the 2nd quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company’s stock valued at $749,000 after acquiring an additional 2,769 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Flowserve by 10.5% in the 2nd quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company’s stock valued at $12,190,000 after acquiring an additional 22,108 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Brian D. Savoy bought 1,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $67.34 per share, with a total value of $67,340.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $67,340. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Flowserve Price Performance

Flowserve stock opened at $76.13 on Monday. The stock’s 50 day moving average is $73.73 and its 200 day moving average is $76.92. Flowserve Corporation has a one year low of $48.71 and a one year high of $92.41. The firm has a market cap of $9.68 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.70 and a beta of 1.23. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58.

Flowserve (NYSE:FLS) last released its earnings results on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, research analysts expect that Flowserve Corporation will post 4.07 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a dividend of $0.22 per share. The ex-dividend date was Friday, June 26th. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Flowserve’s dividend payout ratio is 30.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FLS shares. TD Cowen lowered Flowserve from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $70.00 in a research report on Wednesday, June 24th. Robert W. Baird set a $93.00 price target on Flowserve in a research note on Friday. Royal Bank Of Canada boosted their price target on Flowserve from $91.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup reaffirmed a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Finally, Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.60.

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.