Eastern Bank Acquires 159,634 Shares of Flowserve Corporation $FLS

Key Points

• Eastern Bank more than doubled its Flowserve stake in the second quarter, purchasing 159,634 additional shares to own 291,886 shares valued at approximately $21.6 million. Institutional investors and hedge funds collectively own 93.93% of FLS.
• Flowserve exceeded quarterly expectations, reporting $0.95 in EPS versus the $0.86 consensus and $1.17 billion in revenue. However, revenue declined 1.6% year over year, while full-year 2026 EPS guidance stands at $4.05–$4.20.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $86.60. Flowserve also pays a quarterly dividend of $0.22 per share, representing a 1.1% yield.

Eastern Bank lifted its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 120.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 291,886 shares of the industrial products company's stock after purchasing an additional 159,634 shares during the period. Eastern Bank owned 0.23% of Flowserve worth $21,646,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FLS. BOKF NA acquired a new stake in Flowserve in the third quarter worth $28,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Flowserve in the fourth quarter valued at approximately $36,000. Measured Wealth Private Client Group LLC bought a new position in Flowserve during the third quarter worth about $36,000. IFP Advisors Inc increased its position in shares of Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company's stock worth $46,000 after purchasing an additional 163 shares during the period. Finally, 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 purchasing an additional 162 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Flowserve stock opened at $76.69 on Tuesday. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.70 and a beta of 1.23. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15. The company's 50 day simple moving average is $73.87 and its 200-day simple moving average is $76.93. Flowserve Corporation has a 1 year low of $48.71 and a 1 year high of $92.41.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. The business had revenue of $1.17 billion for 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%.The company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.91 earnings per share. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, equities research analysts expect that Flowserve Corporation will post 4.07 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $0.22 per share. The ex-dividend date was Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 1.1%. Flowserve's payout ratio is presently 30.88%.

Insider Activity

In related news, Director Brian D. Savoy acquired 1,000 shares of Flowserve stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company's stock, valued at approximately $67,340. This trade 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.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FLS. Stifel Nicolaus upped their price objective on Flowserve from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Friday. Weiss Ratings lowered Flowserve from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. The Goldman Sachs Group set a $82.00 price target on Flowserve in a research note on Thursday. Royal Bank Of Canada increased their price target on shares of Flowserve from $91.00 to $94.00 and gave the company an "outperform" rating in a report on Friday. Finally, Zacks Research downgraded Flowserve from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Flowserve has a consensus rating of "Moderate Buy" and an average price target of $86.60.

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.

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