Vanguard Group Inc. Cuts Stake in Flowserve Corporation $FLS

Vanguard Group Inc. lowered its stake in shares of Flowserve Corporation (NYSE:FLS) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,201,398 shares of the industrial products company’s stock after selling 14,956 shares during the period. Vanguard Group Inc. owned about 0.10% of Flowserve worth $701,522,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Flowserve by 625.5% in the third quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock valued at $122,978,000 after acquiring an additional 1,995,221 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Flowserve by 3.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 42,287 shares of the industrial products company’s stock worth $2,247,000 after purchasing an additional 1,297 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Flowserve by 26.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,756 shares of the industrial products company’s stock worth $944,000 after purchasing an additional 3,734 shares during the period. HighTower Advisors LLC lifted its stake in Flowserve by 9.7% in the third quarter. HighTower Advisors LLC now owns 34,012 shares of the industrial products company’s stock valued at $1,807,000 after purchasing an additional 3,003 shares during the last quarter. Finally, BTC Capital Management Inc. lifted its stake in Flowserve by 9.5% in the third quarter. BTC Capital Management Inc. now owns 7,752 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE FLS opened at $88.21 on Tuesday. The company’s 50 day simple moving average is $77.51 and its two-hundred day simple moving average is $65.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.03 and a quick ratio of 1.50. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $91.31. The stock has a market capitalization of $11.23 billion, a PE ratio of 33.67, a P/E/G ratio of 1.96 and a beta of 1.29.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Thursday, February 5th. The industrial products company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Flowserve had a net margin of 7.32% and a return on equity of 21.19%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter 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. Analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. This is a positive change from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, March 27th. Flowserve’s dividend payout ratio (DPR) is currently 33.59%.

Wall Street Analysts Forecast Growth

FLS has been the topic of several research reports. Robert W. Baird set a $98.00 target price on Flowserve in a research note on Monday, February 9th. Weiss Ratings lowered shares of Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus lifted their price objective on shares of Flowserve from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Mizuho increased their target price on Flowserve from $74.00 to $91.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.80.

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.