Okabena Investment Services Inc. Buys Shares of 21,144 Flowserve Corporation $FLS

Okabena Investment Services Inc. acquired a new stake in Flowserve Corporation (NYSE:FLS) during the 4th quarter, Holdings Channel.com reports. The firm acquired 21,144 shares of the industrial products company’s stock, valued at approximately $1,467,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BOKF NA purchased a new stake in shares of Flowserve in the third quarter valued at $28,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Flowserve in the fourth quarter valued at $36,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Flowserve in the third quarter valued at $36,000. IFP Advisors Inc lifted its position in shares of Flowserve by 24.4% in the third 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 in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Flowserve by 20.1% in the third 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 in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FLS has been the topic of several recent research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Flowserve in a research report on Thursday, April 30th. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Citigroup restated a “buy” rating on shares of Flowserve in a research report on Thursday, April 30th. Wall Street Zen downgraded Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, TD Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $79.75 on Tuesday. The firm has a market capitalization of $10.19 billion, a PE ratio of 29.54, a P/E/G ratio of 1.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63. The business has a 50-day moving average of $75.93 and a two-hundred day moving average of $76.50. Flowserve Corporation has a 12 month low of $45.11 and a 12 month high of $92.41.

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

Flowserve Announces Dividend

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

Insider Buying and Selling

In other news, Director Brian D. Savoy purchased 1,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the purchase, the director directly owned 1,000 shares of the company’s stock, valued at $67,340. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by corporate 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.