Engle Capital Management L.P. Takes Position in Flowserve Corporation $FLS

Engle Capital Management L.P. purchased a new stake in Flowserve Corporation (NYSE:FLS) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 56,000 shares of the industrial products company’s stock, valued at approximately $3,885,000. Flowserve accounts for 1.5% of Engle Capital Management L.P.’s portfolio, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlas Capital Advisors Inc. purchased a new position in shares of Flowserve in the 4th quarter valued at $36,000. BOKF NA purchased a new position in shares of Flowserve in the 3rd quarter valued at $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Flowserve in the 3rd quarter valued at $36,000. IFP Advisors Inc increased its holdings 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 valued at $46,000 after acquiring an additional 163 shares during the period. Finally, Parallel Advisors LLC increased its holdings 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 valued at $51,000 after acquiring an additional 162 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Performance

Shares of Flowserve stock opened at $79.00 on Thursday. The firm has a market capitalization of $10.10 billion, a P/E ratio of 29.26, a PEG ratio of 1.81 and a beta of 1.22. 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 company has a 50 day moving average price of $76.09 and a 200 day moving average price of $76.63. Flowserve Corporation has a 52 week low of $45.11 and a 52 week high of $92.41.

Flowserve (NYSE:FLS) last announced 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. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. Flowserve’s revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Sell-side analysts expect that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Flowserve’s dividend payout ratio is currently 32.59%.

Analyst Ratings Changes

Several brokerages have weighed in on FLS. Citigroup restated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research note on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 target price on shares of Flowserve in a research note on Thursday, April 30th. Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings downgraded shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Insider Buying and Selling at Flowserve

In other news, Director Brian D. Savoy acquired 1,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the acquisition, the director 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

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.