Bank of Nova Scotia Takes $4.68 Million Position in Flowserve Corporation $FLS

Key Points

• Bank of Nova Scotia acquired 63,172 Flowserve shares worth approximately $4.68 million during the second quarter. Institutional investors collectively own 93.93% of Flowserve’s stock.
• Flowserve exceeded quarterly expectations, reporting $0.95 in earnings per share versus the $0.86 consensus estimate and $1.17 billion in revenue. However, revenue declined 1.6% year over year, while full-year 2026 EPS guidance remains $4.05–$4.20.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $86.60, though TD Cowen downgraded the stock to “Hold” and lowered its target to $70.

Bank of Nova Scotia bought a new stake in Flowserve Corporation (NYSE:FLS - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 63,172 shares of the industrial products company's stock, valued at approximately $4,685,000.

Several other institutional investors have also modified their holdings of FLS. BlackRock Inc. bought a new position in Flowserve in the 2nd quarter worth approximately $999,631,000. UBS Group AG grew its position in Flowserve by 67.8% in 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 in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Flowserve by 9.9% in the third quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company's stock valued at $171,648,000 after acquiring an additional 290,226 shares in the last quarter. Nuveen LLC boosted its stake in Flowserve by 6.1% during the 4th quarter. Nuveen LLC now owns 2,777,288 shares of the industrial products company's stock valued at $192,688,000 after purchasing an additional 158,661 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Flowserve by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,745,206 shares of the industrial products company's stock valued at $190,468,000 after purchasing an additional 299,346 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

Shares of NYSE:FLS opened at $80.67 on Wednesday. The company's fifty day moving average is $75.15 and its two-hundred day moving average is $77.17. The company has a market cap of $10.25 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.79 and a beta of 1.23. Flowserve Corporation has a 12-month low of $48.71 and a 12-month high of $92.41. 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 (NYSE:FLS - Get Free Report) last issued its earnings results 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. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.16 billion. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.Flowserve's revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. Equities analysts expect that Flowserve Corporation will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLS. Citigroup restated a "buy" rating on shares of Flowserve in a report on Thursday, April 30th. The Goldman Sachs Group set a $82.00 target price on Flowserve in a report on Thursday, July 30th. Royal Bank Of Canada boosted their price target on shares of Flowserve from $91.00 to $94.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. TD Cowen downgraded shares of Flowserve from a "buy" rating to a "hold" rating and cut their price target for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Finally, Robert W. Baird set a $93.00 price objective on shares of Flowserve in a research report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.60.

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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