Edgestream Partners L.P. Grows Position in Flowserve Corporation $FLS

Edgestream Partners L.P. grew its position in Flowserve Corporation (NYSE:FLS) by 94.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,039 shares of the industrial products company’s stock after acquiring an additional 32,589 shares during the quarter. Edgestream Partners L.P. owned 0.05% of Flowserve worth $4,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of FLS. Northwestern Mutual Wealth Management Co. increased its position in Flowserve by 1,300.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock worth $14,967,000 after purchasing an additional 189,165 shares during the last quarter. Bullseye Asset Management LLC lifted its position in Flowserve by 54.5% during the fourth quarter. Bullseye Asset Management LLC now owns 85,000 shares of the industrial products company’s stock valued at $5,897,000 after purchasing an additional 30,000 shares during the last quarter. William Blair Investment Management LLC lifted its position in Flowserve by 142.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company’s stock valued at $72,720,000 after purchasing an additional 615,769 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Flowserve by 27.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 72,950 shares of the industrial products company’s stock worth $5,061,000 after buying an additional 15,850 shares in the last quarter. Finally, Horizon Investments LLC purchased a new position in shares of Flowserve in the 4th quarter worth $4,826,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLS. Wall Street Zen cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Citigroup reiterated a “buy” rating on shares of Flowserve in a research report on Thursday, April 30th. TD Cowen cut 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 note on Wednesday, June 24th. The Goldman Sachs Group set a $82.00 price objective on Flowserve in a research report on Thursday. Finally, Stifel Nicolaus raised their price objective on Flowserve from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.60.

Flowserve Trading Up 1.1%

Shares of FLS opened at $76.13 on Friday. The company’s fifty day simple moving average is $73.73 and its 200-day simple moving average is $76.90. The company has a market cap of $9.68 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.69 and a beta of 1.23. The company has a current ratio of 2.15, a quick ratio of 1.63 and a debt-to-equity ratio of 0.91. Flowserve Corporation has a twelve month low of $48.71 and a twelve month high of $92.41.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, analysts expect that Flowserve Corporation will post 4.06 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, June 26th. Flowserve’s payout ratio is 32.59%.

Insider Activity at Flowserve

In other Flowserve news, Director Brian D. Savoy purchased 1,000 shares of Flowserve stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at $67,340. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.

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.