Exchange Traded Concepts LLC Raises Stock Holdings in Flowserve Corporation $FLS

Exchange Traded Concepts LLC boosted its position in Flowserve Corporation (NYSE:FLS) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,436 shares of the industrial products company’s stock after purchasing an additional 20,725 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Flowserve were worth $8,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BOKF NA bought a new stake in shares of Flowserve during the 3rd quarter valued at $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of Flowserve in the 3rd quarter worth about $36,000. Bruce G. Allen Investments LLC purchased a new position in Flowserve during the 3rd quarter valued at about $40,000. IFP Advisors Inc lifted its position in Flowserve by 24.4% during the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 163 shares during the period. Finally, Parallel Advisors LLC boosted its stake in 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 acquiring an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of recent research reports. Weiss Ratings cut shares of Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, February 18th. Wall Street Zen cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 15th. The Goldman Sachs Group restated a “neutral” rating and issued a $88.00 price target on shares of Flowserve in a research note on Monday, February 9th. Mizuho raised their price objective on Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Finally, Citigroup lifted their price objective on Flowserve from $85.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, February 9th. One investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.80.

Flowserve Stock Down 0.1%

NYSE:FLS opened at $72.07 on Monday. The firm has a market cap of $9.17 billion, a P/E ratio of 27.51, a P/E/G ratio of 1.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 2.03. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $92.41. The firm has a 50-day simple moving average of $80.89 and a two-hundred day simple moving average of $70.13.

Flowserve (NYSE:FLS) last issued 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. 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 firm 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 is a boost from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.88 annualized dividend and a yield of 1.2%. Flowserve’s payout ratio is currently 33.59%.

About Flowserve

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.