PointState Capital LP Purchases New Stake in Flowserve Corporation $FLS

PointState Capital LP bought a new stake in shares of Flowserve Corporation (NYSE:FLS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,654,220 shares of the industrial products company’s stock, valued at approximately $196,837,000. Flowserve makes up 2.5% of PointState Capital LP’s portfolio, making the stock its 11th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Flowserve during the second quarter worth about $999,631,000. Bank of New York Mellon Corp acquired a new stake in shares of Flowserve in the second quarter valued at about $177,380,000. Bank of America Corp DE acquired a new stake in shares of Flowserve in the second quarter valued at about $144,400,000. Norges Bank purchased a new stake in shares of Flowserve during the 4th quarter valued at about $117,964,000. Finally, UBS Group AG raised its holdings in shares of Flowserve by 67.8% during the 3rd quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock valued at $220,367,000 after buying an additional 1,676,284 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Trading Up 2.9%

NYSE:FLS opened at $82.88 on Thursday. The company has a market cap of $10.53 billion, a PE ratio of 29.08, a P/E/G ratio of 1.79 and a beta of 1.23. The business’s 50 day moving average is $75.22 and its two-hundred day moving average is $77.19. The company has a quick ratio of 1.58, a current ratio of 2.15 and a debt-to-equity ratio of 0.91. Flowserve Corporation has a 52 week low of $48.71 and a 52 week high of $92.41.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. On average, analysts predict that Flowserve Corporation will post 4.1 EPS for the current year.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of analyst reports. Weiss Ratings upgraded Flowserve from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Royal Bank Of Canada lifted their price objective on shares of Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. TD Cowen cut shares of Flowserve from a “buy” rating to a “hold” rating and reduced their target price 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 note on Thursday, July 30th. Finally, Stifel Nicolaus raised their price target on shares of Flowserve from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average target price of $86.60.

Flowserve Company 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.