Flowserve Corporation $FLS Stock Position Decreased by Congress Asset Management Co.

Key Points

• Congress Asset Management reduced its Flowserve stake by 3.2% in the third quarter, selling 18,778 shares and retaining 571,051 shares valued at approximately $41.8 million. Institutional investors collectively own 93.93% of the company.
• Flowserve reported quarterly EPS of $0.95, beating estimates of $0.86, while revenue reached $1.17 billion, up slightly from expectations but down 1.6% year over year. The company guided to fiscal 2026 EPS of $4.05–$4.20.
• The company declared a quarterly dividend of $0.22 per share, representing a 1.2% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $86.60, compared with the reported share price of $73.42.

Congress Asset Management Co. cut its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 571,051 shares of the industrial products company's stock after selling 18,778 shares during the quarter. Congress Asset Management Co. owned approximately 0.45% of Flowserve worth $41,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Flowserve during the second quarter valued at approximately $999,631,000. PointState Capital LP purchased a new stake in shares of Flowserve in the second quarter worth $196,837,000. Bank of New York Mellon Corp increased its stake in shares of Flowserve by 5.1% in the first 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 purchasing an additional 118,254 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Flowserve during the 2nd quarter valued at $144,400,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Flowserve during the 2nd quarter valued at $84,869,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Price Performance

NYSE FLS traded down $0.88 during trading on Tuesday, hitting $73.42. 2,226,113 shares of the stock traded hands, compared to its average volume of 1,895,827. The company has a quick ratio of 1.58, a current ratio of 2.15 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. The firm has a 50-day simple moving average of $76.83 and a 200-day simple moving average of $75.43. The company has a market capitalization of $9.33 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.91 EPS. The company'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. As a group, analysts predict that Flowserve Corporation will post 4.1 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 25th. This represents a $0.88 annualized dividend and a yield of 1.2%. Flowserve's dividend payout ratio (DPR) is 30.88%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FLS. Royal Bank Of Canada increased their price target on Flowserve from $91.00 to $94.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. The Goldman Sachs Group set a $82.00 price objective on Flowserve in a research note on Thursday, July 30th. Stifel Nicolaus increased their target price on Flowserve from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Robert W. Baird set a $93.00 target price on Flowserve in a research note on Friday, July 31st. Finally, TD Cowen cut Flowserve from a "buy" rating to a "hold" rating and lowered their price target for the stock from $85.00 to $70.00 in a report on Wednesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $86.60.

About Flowserve

Flowserve Corporation is a global manufacturer of engineered flow-control products and services. The company designs and produces pumps, valves, mechanical seals, and related equipment used to move, control, and protect the flow of liquids and gases in industrial systems.

Its products and services support a range of industries, including oil and gas, chemical processing, power generation, water management, mining, and general industrial markets. Flowserve also provides aftermarket services such as maintenance, repair, replacement parts, equipment upgrades, and technical support to help customers maintain the performance and reliability of their flow-control systems.

Flowserve traces its corporate heritage to businesses with roots dating back to the late 18th century and has developed into an international company serving customers across North America, Europe, Asia, the Middle East, and other global markets.

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