AXQ Capital LP Takes $951,000 Position in Flowserve Corporation $FLS

Key Points

• AXQ Capital LP opened a new position in Flowserve, buying 13,709 shares valued at about $951,000 in the fourth quarter.
• Institutional ownership in Flowserve remains very high at 93.93%, with several large funds recently increasing their stakes, including UBS Group and JPMorgan Chase.
• Flowserve reported quarterly EPS of $0.85, beating estimates, and also announced a quarterly dividend of $0.22 per share to be paid on July 10.

AXQ Capital LP acquired a new stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,709 shares of the industrial products company's stock, valued at approximately $951,000.

A number of other institutional investors have also modified their holdings of the business. UBS Group AG grew its position in shares of Flowserve by 67.8% during the 3rd quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company's stock valued at $220,367,000 after buying an additional 1,676,284 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Flowserve by 9.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company's stock valued at $171,648,000 after buying an additional 290,226 shares during the last quarter. Earnest Partners LLC grew its position in shares of Flowserve by 5.0% during the 3rd quarter. Earnest Partners LLC now owns 2,885,879 shares of the industrial products company's stock valued at $153,356,000 after buying an additional 136,867 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Flowserve by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,445,860 shares of the industrial products company's stock worth $129,974,000 after purchasing an additional 20,884 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in 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. Institutional investors own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

FLS has been the subject of several recent analyst reports. TD Cowen restated a "buy" rating on shares of Flowserve in a research report on Friday, May 1st. Weiss Ratings cut shares of Flowserve from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Royal Bank Of Canada decreased their target price on shares of Flowserve from $98.00 to $91.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research report on Friday, May 1st. Finally, Zacks Research cut shares of Flowserve from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 15th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $87.70.

Insiders Place Their Bets

In other Flowserve news, Director Brian D. Savoy bought 1,000 shares of Flowserve stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the acquisition, the director owned 1,000 shares of the company's stock, valued at approximately $67,340. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.71% of the company's stock.

Flowserve Stock Up 1.5%

FLS opened at $76.21 on Wednesday. Flowserve Corporation has a one year low of $45.11 and a one year high of $92.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. The stock's fifty day moving average is $75.44 and its 200-day moving average is $75.91. The company has a market capitalization of $9.74 billion, a PE ratio of 28.22, a P/E/G ratio of 1.69 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last posted 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. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company's quarterly revenue was down 6.7% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, equities analysts predict that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, June 26th. Flowserve's dividend payout ratio (DPR) is presently 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.

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