Bank of America Corp DE Takes Position in Flowserve Corporation $FLS

Bank of America Corp DE bought a new stake in Flowserve Corporation (NYSE:FLS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,947,136 shares of the industrial products company's stock, valued at approximately $144,400,000. Bank of America Corp DE owned 1.53% of Flowserve at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Flowserve during the 2nd quarter worth approximately $34,000. Global Retirement Partners LLC acquired a new stake in Flowserve in the second quarter valued at approximately $38,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Flowserve during the second quarter valued at approximately $48,000. Measured Wealth Private Client Group LLC increased its holdings in shares of Flowserve by 31.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 880 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 211 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of Flowserve during the second quarter worth approximately $67,000. 93.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLS. Royal Bank Of Canada increased their target price on Flowserve from $91.00 to $94.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Robert W. Baird set a $93.00 price target on shares of Flowserve in a research note on Friday, July 31st. TD Cowen downgraded shares of Flowserve from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $85.00 to $70.00 in a report on Wednesday, June 24th. Stifel Nicolaus raised their price objective on shares of Flowserve from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Flowserve from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.60.

Flowserve Stock Up 2.1%

Shares of NYSE:FLS opened at $73.84 on Friday. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.60 and a beta of 1.25. The company has a quick ratio of 1.58, a current ratio of 2.15 and a debt-to-equity ratio of 0.91. Flowserve Corporation has a 12-month low of $48.71 and a 12-month high of $92.41. The business's 50 day moving average is $75.62 and its 200 day moving average is $75.78.

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

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 25th. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Flowserve's dividend payout ratio is currently 30.88%.

Flowserve Profile

Flowserve Corp. is an industrial manufacturer that designs, manufactures and services flow-control equipment used to move, control and protect fluids in industrial processes. Its product portfolio includes engineered and industrial pumps, valves, mechanical seals, aftermarket parts and related services.

The company serves customers across energy, chemical processing, water, mining, pharmaceutical, power generation and other general industrial markets. Its equipment is used in applications such as oil and gas production, refining, pipeline transportation, power generation and industrial water treatment.

Flowserve traces its corporate heritage to businesses established in the late 18th century and was formed in its current structure through the combination of established pump and flow-control companies.

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