Flowserve Corporation $FLS Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management trimmed its Flowserve stake by 2.2% in the fourth quarter, selling 41,833 shares and still holding 1.865 million shares valued at about $129.4 million.
• Wall Street sentiment remains positive, with eight analysts rating Flowserve a Buy and three a Hold; the average price target is $87.70 after several firms updated targets in recent reports.
• Flowserve reported better-than-expected quarterly EPS of $0.85 versus $0.82 expected, though revenue came in below estimates at $1.07 billion and fell 6.7% year over year.

Fisher Asset Management LLC lessened its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,865,429 shares of the industrial products company's stock after selling 41,833 shares during the period. Fisher Asset Management LLC owned 1.47% of Flowserve worth $129,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. BOKF NA acquired a new position in Flowserve during the 3rd quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in Flowserve during the 3rd quarter worth approximately $36,000. IFP Advisors Inc increased its position in Flowserve by 24.4% during the 3rd 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. Parallel Advisors LLC increased its position in Flowserve by 20.1% during the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company's stock worth $51,000 after purchasing an additional 162 shares during the period. Finally, CENTRAL TRUST Co acquired a new position in Flowserve during the 3rd quarter worth approximately $61,000. Institutional investors and hedge funds own 93.93% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on FLS. Mizuho boosted their target price on Flowserve from $74.00 to $91.00 and gave the stock an "outperform" rating in a research report on Monday, February 9th. Jefferies Financial Group reiterated a "buy" rating and set a $90.00 target price (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Wall Street Zen lowered Flowserve from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. TD Cowen reissued a "buy" rating on shares of Flowserve in a research note on Friday, May 1st. Finally, Royal Bank Of Canada decreased their price target on Flowserve from $98.00 to $91.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.70.

Flowserve Price Performance

Shares of NYSE:FLS opened at $69.63 on Tuesday. The company has a market cap of $8.90 billion, a P/E ratio of 25.79, a P/E/G ratio of 1.57 and a beta of 1.24. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. Flowserve Corporation has a 52 week low of $45.11 and a 52 week high of $92.41. The business has a fifty day simple moving average of $75.43 and a 200-day simple moving average of $75.74.

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

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, June 26th. Flowserve's dividend payout ratio is presently 32.59%.

Insider Activity at Flowserve

In other news, Director Brian D. Savoy acquired 1,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by insiders.

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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