PointState Capital LP Makes New Investment in Flowserve Corporation $FLS

Key Points

• PointState Capital initiated a substantial Flowserve position in the second quarter, buying 2.65 million shares valued at approximately $196.8 million. The stake represented about 2.09% of Flowserve and 2.5% of PointState’s portfolio.
• Institutional ownership remains high at 93.93%, while Flowserve recently exceeded quarterly earnings expectations with EPS of $0.95 versus the $0.86 consensus and revenue of $1.17 billion.
• Analyst sentiment is moderately positive, with seven Buy ratings and four Holds. The consensus price target is $86.60, although targets range from $70 to $94.

PointState Capital LP bought a new position in Flowserve Corporation (NYSE:FLS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,654,220 shares of the industrial products company's stock, valued at approximately $196,837,000. Flowserve accounts for 2.5% of PointState Capital LP's portfolio, making the stock its 11th largest position. PointState Capital LP owned approximately 2.09% of Flowserve at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FLS. BOKF NA acquired a new stake in Flowserve in the third quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Flowserve in the 2nd quarter valued at approximately $34,000. Atlas Capital Advisors Inc. acquired a new position in Flowserve during the 4th quarter worth approximately $36,000. Measured Wealth Private Client Group LLC acquired a new position in Flowserve during the 3rd quarter worth approximately $36,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Flowserve during the 2nd quarter worth approximately $38,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Performance

NYSE:FLS opened at $82.88 on Thursday. The company has a current ratio of 2.15, a quick ratio of 1.58 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $10.53 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 1.79 and a beta of 1.23. The firm has a 50-day moving average price of $75.22 and a two-hundred day moving average price of $77.19. Flowserve Corporation has a twelve month low of $48.71 and a twelve month high of $92.41.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, research analysts expect that Flowserve Corporation will post 4.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on FLS shares. Robert W. Baird set a $93.00 price target on Flowserve in a report on Friday, July 31st. Weiss Ratings upgraded Flowserve from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. TD Cowen cut Flowserve from a "buy" rating to a "hold" rating and cut their price objective for the stock from $85.00 to $70.00 in a research report on Wednesday, June 24th. The Goldman Sachs Group set a $82.00 target price on shares of Flowserve in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada upped their price target on shares of Flowserve from $91.00 to $94.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Flowserve has an average rating of "Moderate Buy" and a consensus target price of $86.60.

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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