Flowserve Corporation $FLS Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. raised its stake in Flowserve Corporation (NYSE:FLS) by 531.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,565 shares of the industrial products company’s stock after acquiring an additional 21,515 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Flowserve were worth $1,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Horizon Advisors Inc. acquired a new stake in shares of Flowserve during the second quarter valued at $26,000. Bruce G. Allen Investments LLC acquired a new position in Flowserve in the 3rd quarter valued at about $40,000. Parallel Advisors LLC raised its stake in Flowserve by 20.1% in the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 162 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in Flowserve in the 3rd quarter valued at about $53,000. Finally, CENTRAL TRUST Co purchased a new position in Flowserve in the 3rd quarter valued at about $61,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FLS. Robert W. Baird set a $98.00 price target on shares of Flowserve in a report on Monday, February 9th. Citigroup upped their price objective on shares of Flowserve from $85.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, February 9th. The Goldman Sachs Group restated a “neutral” rating and set a $88.00 target price on shares of Flowserve in a research report on Monday, February 9th. Bank of America reaffirmed a “neutral” rating and issued a $73.00 target price (up from $60.00) on shares of Flowserve in a research note on Friday, November 14th. Finally, Royal Bank Of Canada boosted their price target on Flowserve from $83.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.80.

Flowserve Trading Up 0.1%

NYSE FLS opened at $78.78 on Thursday. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $92.41. The company has a 50-day moving average of $80.70 and a 200-day moving average of $68.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.03 and a quick ratio of 1.50. The company has a market cap of $10.03 billion, a P/E ratio of 30.07, a P/E/G ratio of 1.74 and a beta of 1.27.

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

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.22 dividend. This is a boost from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, March 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Flowserve’s dividend payout ratio (DPR) is 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.