Hsbc Holdings PLC Sells 52,258 Shares of Flowserve Corporation $FLS

Key Points

• HSBC Holdings cut its Flowserve stake by 91% in the second quarter, selling 52,258 shares and retaining 5,174 shares worth approximately $384,000.
• Institutional ownership remains high at 93.93%, while several investment firms established new positions in Flowserve during the quarter.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $86.60. Flowserve also exceeded quarterly earnings expectations, reporting $0.95 EPS versus the $0.86 consensus estimate, and declared a quarterly dividend of $0.22 per share.

Hsbc Holdings PLC reduced its holdings in Flowserve Corporation (NYSE:FLS - Free Report) by 91.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,174 shares of the industrial products company's stock after selling 52,258 shares during the quarter. Hsbc Holdings PLC's holdings in Flowserve were worth $384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comprehensive Money Management Services LLC bought a new position in shares of Flowserve during the second quarter worth about $736,000. United Capital Financial Advisors LLC acquired a new stake in Flowserve during the 2nd quarter valued at approximately $467,000. Centaurus Financial Inc. bought a new position in Flowserve during the 2nd quarter worth approximately $1,291,000. Public Employees Retirement System of Ohio bought a new position in Flowserve during the 2nd quarter worth approximately $3,043,000. Finally, MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Flowserve in the 2nd quarter worth approximately $1,109,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLS has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Flowserve from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. Royal Bank Of Canada raised their price objective on Flowserve from $91.00 to $94.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Stifel Nicolaus boosted their target price on shares of Flowserve from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. The Goldman Sachs Group set a $82.00 price objective on Flowserve in a report on Thursday, July 30th. Finally, TD Cowen lowered Flowserve from a "buy" rating to a "hold" rating and dropped their target price for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $86.60.

Flowserve Trading Down 0.6%

NYSE:FLS opened at $70.99 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 1.58 and a beta of 1.25. Flowserve Corporation has a 52 week low of $48.71 and a 52 week high of $92.41. The firm has a 50-day moving average price of $75.47 and a two-hundred day moving average price of $76.00.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.09. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The company's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. On average, equities analysts expect that Flowserve Corporation will post 4.1 earnings per share for the current fiscal 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 paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 25th. Flowserve's dividend payout ratio is 30.88%.

About Flowserve

Flowserve Corp. is an industrial manufacturer that designs, manufactures and services flow-control equipment used to move, control and protect fluids in industrial processes. Its product portfolio includes engineered and industrial pumps, valves, mechanical seals, aftermarket parts and related services.

The company serves customers across energy, chemical processing, water, mining, pharmaceutical, power generation and other general industrial markets. Its equipment is used in applications such as oil and gas production, refining, pipeline transportation, power generation and industrial water treatment.

Flowserve traces its corporate heritage to businesses established in the late 18th century and was formed in its current structure through the combination of established pump and flow-control companies.

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