235,208 Flowserve Corporation $FLS Shares Sold by Eastern Bank

Eastern Bank cut its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 80.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,678 shares of the industrial products company's stock after selling 235,208 shares during the quarter. Eastern Bank's holdings in Flowserve were worth $4,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in Flowserve in the second quarter valued at approximately $999,631,000. PointState Capital LP purchased a new position in shares of Flowserve in the second quarter worth $196,837,000. Bank of New York Mellon Corp increased its stake in shares of Flowserve by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 2,448,977 shares of the industrial products company's stock worth $180,024,000 after buying an additional 118,254 shares during the period. Bank of America Corp DE bought a new stake in Flowserve during the 2nd quarter valued at $144,400,000. Finally, William Blair Investment Management LLC bought a new stake in Flowserve during the 2nd quarter valued at $84,869,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLS has been the subject of several analyst reports. Weiss Ratings raised shares of Flowserve from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. Robert W. Baird set a $93.00 price objective on shares of Flowserve in a research note on Friday, July 31st. The Goldman Sachs Group set a $82.00 target price on shares of Flowserve in a report on Thursday, July 30th. Royal Bank Of Canada raised their target price on Flowserve from $91.00 to $94.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, TD Cowen downgraded Flowserve from a "buy" rating to a "hold" rating and reduced their price target for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.60.

Flowserve Trading Up 0.9%

NYSE:FLS traded up $0.65 during trading hours on Monday, hitting $75.02. The company had a trading volume of 455,540 shares, compared to its average volume of 1,887,885. The company has a market capitalization of $9.54 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The stock has a 50-day moving average price of $76.79 and a 200 day moving average price of $75.44. Flowserve Corporation has a 52 week low of $48.71 and a 52 week high of $92.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business earned $0.91 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. On average, equities research analysts predict that Flowserve Corporation will post 4.1 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 25th. Flowserve's payout ratio is presently 30.88%.

Flowserve Profile

Flowserve Corporation is a global manufacturer of engineered flow-control products and services. The company designs and produces pumps, valves, mechanical seals, and related equipment used to move, control, and protect the flow of liquids and gases in industrial systems.

Its products and services support a range of industries, including oil and gas, chemical processing, power generation, water management, mining, and general industrial markets. Flowserve also provides aftermarket services such as maintenance, repair, replacement parts, equipment upgrades, and technical support to help customers maintain the performance and reliability of their flow-control systems.

Flowserve traces its corporate heritage to businesses with roots dating back to the late 18th century and has developed into an international company serving customers across North America, Europe, Asia, the Middle East, and other global markets.

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