Engle Capital Management L.P. Purchases New Shares in Flowserve Corporation $FLS

Engle Capital Management L.P. purchased a new stake in shares of Flowserve Corporation (NYSE:FLS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,000 shares of the industrial products company’s stock, valued at approximately $3,885,000. Flowserve accounts for about 1.5% of Engle Capital Management L.P.’s holdings, making the stock its 22nd largest holding.

A number of other hedge funds have also recently modified their holdings of the business. Capitolis Liquid Global Markets LLC bought a new position in shares of Flowserve during the fourth quarter valued at approximately $10,199,000. Boothbay Fund Management LLC bought a new position in shares of Flowserve during the fourth quarter valued at approximately $308,000. BNB Wealth Management LLC bought a new position in shares of Flowserve during the fourth quarter valued at approximately $468,000. Atlantic Investment Management Inc. bought a new position in shares of Flowserve during the fourth quarter valued at approximately $21,785,000. Finally, Guggenheim Capital LLC bought a new position in shares of Flowserve during the fourth quarter valued at approximately $336,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

FLS stock opened at $79.00 on Thursday. 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 price of $76.09 and a 200 day moving average price of $76.63. The company has a market capitalization of $10.10 billion, a P/E ratio of 29.26, a PEG ratio of 1.81 and a beta of 1.22. Flowserve Corporation has a 1-year low of $45.11 and a 1-year high of $92.41.

Flowserve (NYSE:FLS) last released its quarterly earnings data 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 firm had revenue of $1.07 billion during 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 firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities research analysts forecast that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 target price on shares of Flowserve in a research note on Thursday, April 30th. TD Cowen reissued a “buy” rating on shares of Flowserve in a research report on Friday, May 1st. Jefferies Financial Group reissued 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. Finally, Wall Street Zen cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.70.

Insider Buying and Selling at Flowserve

In other news, Director Brian D. Savoy acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost 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 of the company’s stock, valued at $67,340. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by 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.