Okabena Investment Services Inc. Invests $1.47 Million in Flowserve Corporation $FLS

Okabena Investment Services Inc. bought a new position in shares of Flowserve Corporation (NYSE:FLS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 21,144 shares of the industrial products company’s stock, valued at approximately $1,467,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Flowserve by 1,300.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock worth $14,967,000 after acquiring an additional 189,165 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Flowserve during the third quarter worth approximately $3,034,000. Dynamic Technology Lab Private Ltd acquired a new position in Flowserve during the third quarter worth approximately $2,343,000. Exchange Traded Concepts LLC increased its position in Flowserve by 19.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 128,436 shares of the industrial products company’s stock worth $8,911,000 after buying an additional 20,725 shares during the period. Finally, Horizon Investments LLC acquired a new position in Flowserve during the fourth quarter worth approximately $4,826,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Up 2.1%

Flowserve stock opened at $79.75 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. Flowserve Corporation has a fifty-two week low of $45.11 and a fifty-two week high of $92.41. The stock’s fifty day moving average is $75.93 and its two-hundred day moving average is $76.50.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.07 billion for 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%.Flowserve’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Analysts predict that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Dividend Announcement

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 of this dividend is Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 1.1%. Flowserve’s dividend payout ratio is 32.59%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FLS shares. Citigroup reissued a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Wall Street Zen lowered Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings lowered Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada dropped their target price on Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.70.

Insiders Place Their Bets

In other news, Director Brian D. Savoy bought 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, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.