300,238 Shares in Flowserve Corporation $FLS Acquired by Swedbank AB

Swedbank AB acquired a new stake in shares of Flowserve Corporation (NYSE:FLS) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 300,238 shares of the industrial products company’s stock, valued at approximately $22,070,000. Swedbank AB owned 0.23% of Flowserve as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Comprehensive Money Management Services LLC lifted its position in shares of Flowserve by 1.5% during the first quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 125 shares during the last quarter. BTC Capital Management Inc. grew its holdings in shares of Flowserve by 2.5% in the first quarter. BTC Capital Management Inc. now owns 6,531 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 162 shares during the last quarter. Parallel Advisors LLC increased its stake in 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 buying an additional 162 shares during the period. IFP Advisors Inc increased its stake in 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 buying an additional 163 shares during the period. Finally, Inspire Advisors LLC lifted its holdings in Flowserve by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company’s stock valued at $324,000 after buying an additional 165 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

FLS has been the topic of a number of research analyst reports. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research note on Friday, May 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 price target on shares of Flowserve in a research note on Thursday, April 30th. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Citigroup reissued a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Finally, TD Cowen downgraded Flowserve from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $70.00 in a report on Wednesday, June 24th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.70.

Insider Buying and Selling

In other news, Director Brian D. Savoy purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at $67,340. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $69.78 on Friday. The firm has a 50 day moving average of $73.55 and a 200 day moving average of $77.01. 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 market capitalization of $8.92 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. Flowserve Corporation has a 52 week low of $48.71 and a 52 week high of $92.41.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The business’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, sell-side analysts predict that Flowserve Corporation will post 4.05 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.3%. Flowserve’s payout ratio is currently 32.59%.

Flowserve 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.