Centaurus Financial Inc. Purchases New Holdings in Flowserve Corporation $FLS

Key Points

• Centaurus Financial acquired 17,406 Flowserve shares in the second quarter, worth approximately $1.29 million. Institutional investors collectively own 93.93% of the company.
• Analyst sentiment remains moderately positive, with six Buy ratings and five Holds and a consensus price target of $86.60; however, TD Cowen and Weiss Ratings recently downgraded the stock to Hold.
• Flowserve exceeded quarterly earnings expectations, reporting $0.95 in EPS versus $0.86 expected and $1.17 billion in revenue, while revenue declined 1.6% year over year. The company also declared a quarterly dividend of $0.22 per share, yielding about 1.1% annually.

Centaurus Financial Inc. acquired a new position in Flowserve Corporation (NYSE:FLS - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,406 shares of the industrial products company's stock, valued at approximately $1,291,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comprehensive Money Management Services LLC boosted its position in shares of Flowserve by 1.5% in the first quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company's stock worth $625,000 after buying an additional 125 shares during the period. BTC Capital Management Inc. grew its holdings in shares of Flowserve by 2.5% during the first quarter. BTC Capital Management Inc. now owns 6,531 shares of the industrial products company's stock valued at $480,000 after buying an additional 162 shares in the last quarter. Parallel Advisors LLC raised its position in Flowserve by 20.1% during the third 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 raised its position in Flowserve by 24.4% during the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company's stock valued at $46,000 after buying an additional 163 shares during the period. Finally, Inspire Advisors LLC lifted its stake in Flowserve by 3.7% in the 4th quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company's stock worth $324,000 after acquiring an additional 165 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup reiterated a "buy" rating on shares of Flowserve in a report on Thursday, April 30th. TD Cowen cut shares of Flowserve from a "buy" rating to a "hold" rating and decreased their price target for the stock from $85.00 to $70.00 in a report on Wednesday, June 24th. Royal Bank Of Canada boosted their price objective on shares of Flowserve from $91.00 to $94.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings lowered shares of Flowserve from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Finally, The Goldman Sachs Group set a $82.00 target price on shares of Flowserve in a research report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Flowserve has a consensus rating of "Moderate Buy" and a consensus price target of $86.60.

Flowserve Stock Down 0.9%

Shares of Flowserve stock opened at $82.03 on Friday. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 28.78, a P/E/G ratio of 1.84 and a beta of 1.23. The stock has a 50-day simple moving average of $75.23 and a 200-day simple moving average of $77.17. Flowserve Corporation has a 52-week low of $48.71 and a 52-week high of $92.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58.

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

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, September 25th. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. Flowserve's dividend payout ratio is 30.88%.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source