Kingsview Wealth Management LLC Invests $3.54 Million in Flowserve Corporation $FLS

Key Points

• Kingsview Wealth Management bought a new position in Flowserve, acquiring 51,011 shares valued at about $3.54 million in the fourth quarter.
• Flowserve continues to attract institutional and insider interest, with hedge funds owning 93.93% of the stock and director Brian D. Savoy recently purchasing 1,000 shares.
• Analysts remain generally constructive on the stock: the consensus rating is Moderate Buy with an average price target of $87.70, while the company also reported earnings of $0.85 per share, topping estimates.

Kingsview Wealth Management LLC acquired a new position in Flowserve Corporation (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,011 shares of the industrial products company's stock, valued at approximately $3,539,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BOKF NA purchased a new stake in shares of Flowserve in the 3rd quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Flowserve in the 3rd quarter worth $36,000. IFP Advisors Inc increased its stake in shares of Flowserve by 24.4% in 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 in the last quarter. Parallel Advisors LLC increased its stake in shares of Flowserve by 20.1% in 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 in the last quarter. Finally, Smithfield Trust Co increased its stake in shares of Flowserve by 27.4% in the 4th quarter. Smithfield Trust Co now owns 1,019 shares of the industrial products company's stock worth $71,000 after purchasing an additional 219 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Flowserve

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

Analyst Ratings Changes

Several equities research analysts have recently commented on FLS shares. Stifel Nicolaus set a $92.00 price objective on Flowserve in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $83.00 target price on shares of Flowserve in a report on Thursday, April 30th. Citigroup reaffirmed a "buy" rating on shares of Flowserve in a report on Thursday, April 30th. Royal Bank Of Canada dropped their target price on shares of Flowserve from $98.00 to $91.00 and set an "outperform" rating for the company in a report on Friday, May 1st. Finally, TD Cowen reaffirmed a "buy" rating on shares of Flowserve in a report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Flowserve has an average rating of "Moderate Buy" and an average price target of $87.70.

Flowserve Stock Up 0.3%

FLS opened at $75.41 on Friday. The firm has a 50-day simple moving average of $75.43 and a two-hundred day simple moving average of $75.83. Flowserve Corporation has a 52 week low of $45.11 and a 52 week high of $92.41. The company has a market capitalization of $9.64 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.70 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 (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The business's revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Analysts forecast that Flowserve Corporation will post 4.05 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve's dividend payout ratio is 32.59%.

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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