Horizon Investments LLC Invests $4.83 Million in Flowserve Corporation $FLS

Horizon Investments LLC bought a new position in shares of Flowserve Corporation (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 69,564 shares of the industrial products company's stock, valued at approximately $4,826,000. Horizon Investments LLC owned approximately 0.05% of Flowserve at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLS. Goldman Sachs Group Inc. increased its position in shares of Flowserve by 48.2% during the first quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company's stock worth $23,047,000 after acquiring an additional 153,553 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Flowserve in the 2nd quarter worth about $313,000. First Trust Advisors LP grew its position in Flowserve by 6.0% in the 2nd quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company's stock worth $7,040,000 after purchasing an additional 7,624 shares in the last quarter. Cresset Asset Management LLC grew its position in Flowserve by 24.1% in the 2nd quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company's stock worth $749,000 after purchasing an additional 2,769 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Flowserve by 10.5% in the 2nd quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company's stock worth $12,190,000 after purchasing an additional 22,108 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Up 0.0%

FLS opened at $71.68 on Monday. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.61 and a beta of 1.24. Flowserve Corporation has a twelve month low of $45.11 and a twelve month high of $92.41. The company's 50-day moving average price is $79.96 and its two-hundred day moving average price is $74.55.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The company's quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities analysts expect that Flowserve Corporation will post 4.04 earnings per share for the current year.

Flowserve Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were paid a $0.22 dividend. The ex-dividend date was Friday, March 27th. This is a positive change from Flowserve's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Flowserve's dividend payout ratio is presently 32.59%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLS. TD Cowen reaffirmed a "buy" rating on shares of Flowserve in a research report on Friday. Zacks Research downgraded shares of Flowserve from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $83.00 price objective on shares of Flowserve in a research report on Thursday. Weiss Ratings raised shares of Flowserve from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday. Finally, Robert W. Baird set a $98.00 price objective on shares of Flowserve in a research report on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.70.

About Flowserve

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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