Atlantic Investment Management Inc. Makes New Investment in Flowserve Corporation $FLS

Key Points

• Atlantic Investment Management disclosed a new position in Flowserve, buying 314,000 shares worth about $21.8 million. The stake represents roughly 12.3% of its portfolio and makes Flowserve its third-largest holding.
• Flowserve's latest quarterly results beat earnings expectations, with EPS of $0.85 versus the $0.82 consensus, though revenue of $1.07 billion came in below estimates and fell 6.7% year over year.
• The company declared a quarterly dividend of $0.22 per share, payable July 10, while analysts currently rate the stock a Moderate Buy with an average price target of $87.70.

Atlantic Investment Management Inc. acquired a new position in Flowserve Corporation (NYSE:FLS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 314,000 shares of the industrial products company's stock, valued at approximately $21,785,000. Flowserve accounts for about 12.3% of Atlantic Investment Management Inc.'s portfolio, making the stock its 3rd largest holding. Atlantic Investment Management Inc. owned about 0.25% of Flowserve at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Flowserve by 3.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company's stock worth $222,000 after purchasing an additional 157 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Flowserve by 20.1% in the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company's stock valued at $51,000 after buying an additional 162 shares during the period. IFP Advisors Inc increased its position in shares of Flowserve by 24.4% during the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company's stock worth $46,000 after purchasing an additional 163 shares during the last quarter. Inspire Advisors LLC raised its holdings in Flowserve by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company's stock valued at $324,000 after buying an additional 165 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Flowserve by 8.1% during the 4th quarter. UMB Bank n.a. now owns 2,230 shares of the industrial products company's stock worth $155,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Insider Transactions at Flowserve

In other Flowserve news, Director Brian D. Savoy bought 1,000 shares of the business's stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $83.00 price objective on shares of Flowserve in a research report on Thursday, April 30th. Zacks Research lowered shares of Flowserve from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 15th. Stifel Nicolaus set a $92.00 price objective on shares of Flowserve in a report on Friday, May 1st. Weiss Ratings lowered shares of Flowserve from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 15th. Finally, TD Cowen reiterated a "buy" rating on shares of Flowserve in a research note on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and an average price target of $87.70.

Flowserve Stock Down 1.9%

FLS stock opened at $79.00 on Thursday. The company has a market cap of $10.10 billion, a P/E ratio of 29.26, a P/E/G ratio of 1.81 and a beta of 1.22. Flowserve Corporation has a 52 week low of $45.11 and a 52 week high of $92.41. The company's 50-day moving average price is $76.09 and its 200 day moving average price is $76.63. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The firm's revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, research analysts expect that Flowserve Corporation will post 4.05 earnings per share for the current fiscal year.

Flowserve Announces Dividend

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

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.

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