Cookson Peirce & Co. Inc. Sells 326,156 Shares of Flowserve Corporation $FLS

Cookson Peirce & Co. Inc. decreased its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 93.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,533 shares of the industrial products company's stock after selling 326,156 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Flowserve were worth $1,819,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Flowserve by 48.2% in the first quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company's stock worth $23,047,000 after acquiring an additional 153,553 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Flowserve during the second quarter valued at approximately $313,000. First Trust Advisors LP increased its holdings in shares of Flowserve by 6.0% in the second quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company's stock valued at $7,040,000 after purchasing an additional 7,624 shares in the last quarter. Cresset Asset Management LLC increased its holdings in shares of Flowserve by 24.1% in the second quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company's stock valued at $749,000 after purchasing an additional 2,769 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Flowserve by 10.5% in the 2nd quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company's stock worth $12,190,000 after purchasing an additional 22,108 shares during the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

FLS opened at $80.49 on Friday. The company has a fifty day moving average price of $75.20 and a two-hundred day moving average price of $77.19. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15. Flowserve Corporation has a 52 week low of $48.71 and a 52 week high of $92.41. The firm has a market capitalization of $10.23 billion, a PE ratio of 28.24, a P/E/G ratio of 1.79 and a beta of 1.23.

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

Flowserve Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FLS. Weiss Ratings downgraded Flowserve from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. Royal Bank Of Canada boosted their target price on Flowserve from $91.00 to $94.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. The Goldman Sachs Group set a $82.00 price target on Flowserve in a research note on Thursday, July 30th. TD Cowen cut Flowserve from a "buy" rating to a "hold" rating and decreased 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 target on Flowserve in a report on Friday, July 31st. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and a consensus price target of $86.60.

About Flowserve

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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