BNP Paribas Financial Markets Grows Stock Position in Flowserve Corporation $FLS

Key Points

• BNP Paribas Financial Markets sharply increased its stake in Flowserve, boosting holdings by 467.9% in Q4 to 452,808 shares worth about $31.4 million.
• Institutional ownership in Flowserve remains very high, with hedge funds and other institutions controlling 93.93% of the stock. Several other firms, including JPMorgan Chase and UBS, also raised their positions recently.
• Flowserve reported better-than-expected earnings of $0.85 per share, though revenue fell 6.7% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $87.70.

BNP Paribas Financial Markets grew its holdings in Flowserve Corporation (NYSE:FLS - Free Report) by 467.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 452,808 shares of the industrial products company's stock after purchasing an additional 373,072 shares during the period. BNP Paribas Financial Markets owned about 0.36% of Flowserve worth $31,416,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Flowserve by 625.5% during the third quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company's stock valued at $122,978,000 after purchasing an additional 1,995,221 shares in the last quarter. Norges Bank acquired a new stake in shares of Flowserve during the fourth quarter worth about $117,964,000. UBS Group AG lifted its holdings in shares of Flowserve by 67.8% during the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company's stock worth $220,367,000 after purchasing an additional 1,676,284 shares during the period. Merewether Investment Management LP acquired a new stake in shares of Flowserve during the second quarter worth about $46,555,000. Finally, William Blair Investment Management LLC lifted its holdings in shares of Flowserve by 142.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company's stock worth $72,720,000 after purchasing an additional 615,769 shares during the period. Hedge funds and other institutional investors own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird set a $98.00 price target on Flowserve in a research report on Monday, February 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $83.00 price target on shares of Flowserve in a research note on Thursday, April 30th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price target (down from $100.00) on shares of Flowserve in a research note on Tuesday, March 31st. Weiss Ratings lowered Flowserve from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 15th. Finally, Citigroup reaffirmed a "buy" rating on shares of Flowserve in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.70.

Insider Activity at Flowserve

In other Flowserve news, Director Brian D. Savoy purchased 1,000 shares of Flowserve stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $67.34 per share, with a total value of $67,340.00. Following the acquisition, the director directly owned 1,000 shares of the company's stock, valued at $67,340. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by corporate insiders.

Flowserve Price Performance

Shares of NYSE FLS opened at $75.47 on Friday. The stock's 50-day moving average is $75.56 and its two-hundred day moving average is $76.07. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63. Flowserve Corporation has a 1-year low of $45.11 and a 1-year high of $92.41. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 1.70 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 prior year, the business earned $0.72 EPS. Flowserve's revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Analysts forecast that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve's dividend payout ratio (DPR) is presently 32.59%.

Flowserve Company 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.

Want to see what other hedge funds are holding FLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowserve Corporation (NYSE:FLS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.