Janney Montgomery Scott LLC Has $3.73 Million Holdings in Flowserve Corporation $FLS

Janney Montgomery Scott LLC grew its position in Flowserve Corporation (NYSE:FLS) by 42.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,783 shares of the industrial products company’s stock after buying an additional 15,095 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Flowserve were worth $3,733,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FLS. Goldman Sachs Group Inc. lifted its position in shares of Flowserve by 48.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock valued at $23,047,000 after acquiring an additional 153,553 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Flowserve during the 2nd quarter valued at $313,000. First Trust Advisors LP raised its stake in Flowserve by 6.0% during the 2nd quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company’s stock valued at $7,040,000 after purchasing an additional 7,624 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of Flowserve by 24.1% in the second quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company’s stock valued at $749,000 after purchasing an additional 2,769 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Flowserve by 10.5% in the second quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company’s stock valued at $12,190,000 after purchasing an additional 22,108 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Cowen downgraded Flowserve from a “buy” rating to a “hold” rating and lowered their price target for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 target price on shares of Flowserve in a report on Thursday, April 30th. Royal Bank Of Canada reduced their price target on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Citigroup restated a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and an average target price of $86.70.

Flowserve Stock Down 3.9%

Shares of Flowserve stock traded down $2.94 during midday trading on Tuesday, reaching $71.77. 55,021 shares of the company’s stock traded hands, compared to its average volume of 1,975,682. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. Flowserve Corporation has a 52 week low of $48.71 and a 52 week high of $92.41. The company’s 50 day simple moving average is $74.48 and its 200 day simple moving average is $77.01. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, topping 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 firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The business’s quarterly revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Equities analysts expect that Flowserve Corporation will post 4.05 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

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

Insider Buying and Selling

In related news, Director Brian D. Savoy purchased 1,000 shares of the stock in a transaction on Thursday, May 14th. The shares were bought at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the acquisition, the director directly owned 1,000 shares in the company, valued at approximately $67,340. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is currently owned by company insiders.

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.