Evolve Private Wealth LLC Raises Holdings in Flowserve Corporation $FLS

Key Points

• Evolve Private Wealth LLC boosted its Flowserve stake by 375.4% in the first quarter, adding 27,912 shares to bring its total holdings to 35,348 shares worth about $2.6 million.
• Flowserve’s latest quarterly results beat earnings expectations, reporting $0.85 EPS versus the $0.82 consensus, though revenue came in below estimates at $1.07 billion and fell 6.7% year over year.
• Analysts remain cautiously positive: the stock has a Moderate Buy consensus with an average price target of $87.70, and Flowserve also declared a $0.22 quarterly dividend payable July 10.

Evolve Private Wealth LLC raised its position in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 375.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,348 shares of the industrial products company's stock after acquiring an additional 27,912 shares during the period. Evolve Private Wealth LLC's holdings in Flowserve were worth $2,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Flowserve by 7.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 699,295 shares of the industrial products company's stock worth $51,405,000 after purchasing an additional 48,480 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Flowserve in the 1st quarter valued at about $3,015,000. Rockefeller Capital Management L.P. grew its holdings in shares of Flowserve by 51.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,143 shares of the industrial products company's stock worth $357,000 after purchasing an additional 1,737 shares during the period. World Investment Advisors grew its holdings in shares of Flowserve by 6.9% during the 4th quarter. World Investment Advisors now owns 27,868 shares of the industrial products company's stock worth $1,933,000 after purchasing an additional 1,792 shares during the period. Finally, DUTCH ASSET Corp acquired a new stake in Flowserve during the 4th quarter worth approximately $603,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research cut shares of Flowserve from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 15th. Citigroup reissued a "buy" rating on shares of Flowserve in a research report on Thursday, April 30th. Jefferies Financial Group reissued a "buy" rating and issued a $90.00 target price (down from $100.00) on shares of Flowserve in a research note on Tuesday, March 31st. The Goldman Sachs Group restated a "neutral" rating and set a $83.00 target price on shares of Flowserve in a report on Thursday, April 30th. Finally, Wall Street Zen cut shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.70.

Flowserve Price Performance

FLS opened at $81.66 on Tuesday. The company has a fifty day simple moving average of $76.10 and a 200 day simple moving average of $76.86. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 1.84 and a beta of 1.23. Flowserve Corporation has a twelve month low of $45.11 and a twelve month high of $92.41. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm's quarterly revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Equities research analysts expect that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 26th. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. Flowserve's payout ratio is 32.59%.

Insider Activity at Flowserve

In other Flowserve news, Director Brian D. Savoy purchased 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, with a total value of $67,340.00. Following the completion of the acquisition, the director owned 1,000 shares of the company's stock, valued at approximately $67,340. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.71% of the company's stock.

Flowserve 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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