Engle Capital Management L.P. Has $18.38 Million Holdings in Flowserve Corporation $FLS

Engle Capital Management L.P. boosted its position in shares of Flowserve Corporation (NYSE:FLS) by 346.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,000 shares of the industrial products company’s stock after acquiring an additional 194,000 shares during the period. Flowserve accounts for about 6.3% of Engle Capital Management L.P.’s holdings, making the stock its 7th biggest position. Engle Capital Management L.P. owned 0.20% of Flowserve worth $18,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in Flowserve by 48.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock worth $23,047,000 after purchasing an additional 153,553 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Flowserve in the second quarter worth $313,000. First Trust Advisors LP increased its holdings in shares of Flowserve by 6.0% in the second quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company’s stock worth $7,040,000 after purchasing an additional 7,624 shares during the period. Cresset Asset Management LLC increased its holdings in shares of Flowserve by 24.1% in the second quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 2,769 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Flowserve by 10.5% in the second quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company’s stock worth $12,190,000 after buying an additional 22,108 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

FLS has been the subject of several research analyst reports. TD Cowen lowered Flowserve from a “buy” rating to a “hold” rating and dropped their price objective for the company from $85.00 to $70.00 in a research note on Wednesday, June 24th. Royal Bank Of Canada decreased their target price on Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Citigroup reaffirmed a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Stifel Nicolaus set a $92.00 price target on Flowserve in a research report on Friday, May 1st. Finally, Wall Street Zen lowered Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Seven equities research analysts have rated the stock with a Buy rating and four have issued 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 an average price target of $86.70.

Flowserve Stock Performance

Flowserve stock opened at $72.63 on Tuesday. Flowserve Corporation has a fifty-two week low of $48.71 and a fifty-two week high of $92.41. The firm’s fifty day moving average price is $73.25 and its 200-day moving average price is $76.89. The stock has a market cap of $9.28 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22.

Flowserve (NYSE:FLS) last released its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, equities research analysts expect that Flowserve Corporation will post 4.04 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, June 26th. Flowserve’s dividend payout ratio is presently 32.59%.

Insider Activity at Flowserve

In other news, Director Brian D. Savoy acquired 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 transaction, the director owned 1,000 shares of the company’s stock, valued at $67,340. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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.