Flowserve Corporation $FLS Shares Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC raised its stake in shares of Flowserve Corporation (NYSE:FLS) by 375.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,348 shares of the industrial products company’s stock after acquiring an additional 27,912 shares during the quarter. Evolve Private Wealth LLC’s holdings in Flowserve were worth $2,598,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Flowserve by 625.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock worth $122,978,000 after purchasing an additional 1,995,221 shares during the last quarter. Norges Bank bought a new position in shares of Flowserve during the fourth quarter worth about $117,964,000. UBS Group AG grew its stake in Flowserve by 67.8% in the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after purchasing an additional 1,676,284 shares in the last quarter. Merewether Investment Management LP acquired a new position in Flowserve in the second quarter worth about $46,555,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Flowserve by 102.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,731,665 shares of the industrial products company’s stock valued at $120,143,000 after buying an additional 877,327 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Flowserve in a research note on Tuesday, March 31st. TD Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Friday, May 1st. Royal Bank Of Canada lowered their price target on Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen cut Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.70.

Flowserve Stock Performance

Shares of NYSE FLS opened at $81.66 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $76.10 and its two-hundred day moving average price is $76.86. Flowserve Corporation has a 52-week low of $45.11 and a 52-week high of $92.41. The stock has a market capitalization of $10.44 billion, a P/E ratio of 30.25, a P/E/G ratio of 1.84 and a beta of 1.23.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, sell-side analysts forecast that Flowserve Corporation will post 4.05 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, June 26th. Flowserve’s dividend payout ratio is presently 32.59%.

Insiders Place Their Bets

In related news, Director Brian D. Savoy bought 1,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is owned by corporate insiders.

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.