Edgestream Partners L.P. Raises Stake in Flowserve Corporation $FLS

Edgestream Partners L.P. raised its stake in Flowserve Corporation (NYSE:FLS) by 94.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,039 shares of the industrial products company’s stock after buying an additional 32,589 shares during the period. Edgestream Partners L.P.’s holdings in Flowserve were worth $4,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. BOKF NA purchased a new position in shares of Flowserve during the third quarter worth approximately $28,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Flowserve in the fourth quarter valued at approximately $36,000. Measured Wealth Private Client Group LLC bought a new position in Flowserve in the third quarter worth approximately $36,000. IFP Advisors Inc grew its stake in Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 163 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Flowserve by 20.1% during the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 162 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Brian D. Savoy purchased 1,000 shares of Flowserve stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $67.34 per share, with a total value of $67,340.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $67,340. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group set a $82.00 target price on Flowserve in a research report on Thursday. Weiss Ratings downgraded Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Stifel Nicolaus increased their price target on Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank Of Canada raised their price target on Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.60.

Flowserve Price Performance

NYSE FLS opened at $76.13 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.63 and a current ratio of 2.15. The firm’s 50 day moving average price is $73.73 and its 200-day moving average price is $76.90. Flowserve Corporation has a 52-week low of $48.71 and a 52-week high of $92.41. The company has a market cap of $9.68 billion, a PE ratio of 26.71, a P/E/G ratio of 1.69 and a beta of 1.23.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. Flowserve’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. Sell-side analysts forecast that Flowserve Corporation will post 4.06 EPS for the current fiscal year.

Flowserve Announces Dividend

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

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.