Envestnet Portfolio Solutions Inc. Makes New Investment in Flowserve Corporation $FLS

Key Points

• Envestnet Portfolio Solutions acquired 26,431 Flowserve shares worth approximately $1.96 million in the second quarter. Institutional investors collectively own 93.93% of the company, with BlackRock and PointState Capital also establishing sizable new positions.
• Analysts maintain a generally positive outlook, with seven Buy ratings and four Holds; Flowserve has a “Moderate Buy” consensus rating and an average price target of $86.60.
• Flowserve’s shares opened at $73.78 after declining 3%, while its latest quarterly results exceeded expectations with $0.95 earnings per share and $1.17 billion in revenue. The company also declared a quarterly dividend of $0.22 per share, equivalent to a 1.2% annual yield.

Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,431 shares of the industrial products company's stock, valued at approximately $1,960,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Flowserve in the second quarter worth approximately $999,631,000. PointState Capital LP bought a new stake in Flowserve during the second quarter valued at approximately $196,837,000. Bank of New York Mellon Corp grew its stake in Flowserve by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,448,977 shares of the industrial products company's stock worth $180,024,000 after buying an additional 118,254 shares in the last quarter. Bank of America Corp DE purchased a new position in Flowserve in the 2nd quarter worth approximately $144,400,000. Finally, Norges Bank bought a new position in shares of Flowserve in the 4th quarter worth $117,964,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group set a $82.00 price objective on shares of Flowserve in a report on Thursday, July 30th. Royal Bank Of Canada increased their target price on Flowserve from $91.00 to $94.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Weiss Ratings upgraded Flowserve from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. Stifel Nicolaus lifted their price target on Flowserve from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $93.00 price objective on Flowserve in a report on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $86.60.

Flowserve Stock Down 3.0%

Shares of NYSE:FLS opened at $73.78 on Friday. The stock has a market capitalization of $9.38 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25. The stock's 50-day moving average price is $76.35 and its 200-day moving average price is $75.54. The company has a current ratio of 2.15, a quick ratio of 1.58 and a debt-to-equity ratio of 0.91. Flowserve Corporation has a 12-month low of $48.71 and a 12-month high of $92.41.

Flowserve (NYSE:FLS - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted $0.91 EPS. Flowserve's revenue for the quarter was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. On average, equities analysts anticipate that Flowserve Corporation will post 4.1 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued 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 is Friday, September 25th. Flowserve's dividend payout ratio is currently 30.88%.

Flowserve Company Profile

Flowserve Corp. is an industrial manufacturer that designs, manufactures and services flow-control equipment used to move, control and protect fluids in industrial processes. Its product portfolio includes engineered and industrial pumps, valves, mechanical seals, aftermarket parts and related services.

The company serves customers across energy, chemical processing, water, mining, pharmaceutical, power generation and other general industrial markets. Its equipment is used in applications such as oil and gas production, refining, pipeline transportation, power generation and industrial water treatment.

Flowserve traces its corporate heritage to businesses established in the late 18th century and was formed in its current structure through the combination of established pump and flow-control companies.

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