Flowserve Corporation $FLS Shares Sold by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management LLC cut its Flowserve stake by 22.5% in the first quarter, selling 47,764 shares and leaving it with 164,582 shares valued at about $12.1 million.
• Flowserve reported mixed quarterly results, with EPS of $0.85 beating estimates, but revenue of $1.07 billion falling short of expectations and declining 6.7% year over year.
• The company announced a quarterly dividend of $0.22 per share, payable July 10, which works out to an annualized dividend of $0.88 and a yield of about 1.2%.

Peregrine Capital Management LLC decreased its holdings in Flowserve Corporation (NYSE:FLS - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 164,582 shares of the industrial products company's stock after selling 47,764 shares during the quarter. Peregrine Capital Management LLC owned 0.13% of Flowserve worth $12,098,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Flowserve by 1,300.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company's stock worth $14,967,000 after buying an additional 189,165 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Flowserve in the 3rd quarter worth approximately $2,343,000. Exchange Traded Concepts LLC boosted its holdings in shares of Flowserve by 19.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 128,436 shares of the industrial products company's stock valued at $8,911,000 after acquiring an additional 20,725 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Flowserve by 142.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company's stock valued at $72,720,000 after acquiring an additional 615,769 shares during the period. Finally, Horizon Investments LLC acquired a new position in shares of Flowserve during the fourth quarter valued at approximately $4,826,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Trading Up 1.2%

Shares of NYSE:FLS opened at $74.16 on Wednesday. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.65 and a beta of 1.22. Flowserve Corporation has a 1-year low of $48.71 and a 1-year high of $92.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. The company has a 50 day moving average price of $75.24 and a 200 day moving average price of $76.97.

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

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $0.22 dividend. The ex-dividend date is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. Flowserve's dividend payout ratio (DPR) is 32.59%.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $90.00 target price (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Stifel Nicolaus set a $92.00 price target on Flowserve in a research report on Friday, May 1st. Citigroup reissued a "buy" rating on shares of Flowserve in a research note on Thursday, April 30th. Zacks Research lowered Flowserve from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 15th. Finally, Royal Bank Of Canada decreased their target price on Flowserve from $98.00 to $91.00 and set an "outperform" rating for the company in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Flowserve currently has an average rating of "Moderate Buy" and an average target price of $86.70.

Insider Buying and Selling at Flowserve

In related news, Director Brian D. Savoy purchased 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $67.34 per share, with a total value of $67,340.00. Following the purchase, the director owned 1,000 shares of the company's stock, valued at $67,340. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.71% of the stock is owned by company insiders.

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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