Bank of America Corp DE Buys 192,595 Shares of Flowserve Corporation $FLS

Bank of America Corp DE lifted its stake in Flowserve Corporation (NYSE:FLS) by 19.9% in the 1st quarter, HoldingsChannel reports. The firm owned 1,159,171 shares of the industrial products company’s stock after buying an additional 192,595 shares during the quarter. Bank of America Corp DE’s holdings in Flowserve were worth $85,211,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FLS. UBS Group AG boosted its position in 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 acquiring an additional 1,676,284 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Flowserve by 9.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company’s stock worth $171,648,000 after acquiring an additional 290,226 shares in the last quarter. Nuveen LLC raised its position in shares of Flowserve by 6.1% in the 4th quarter. Nuveen LLC now owns 2,777,288 shares of the industrial products company’s stock worth $192,688,000 after acquiring an additional 158,661 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Flowserve by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,745,206 shares of the industrial products company’s stock valued at $190,468,000 after purchasing an additional 299,346 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Flowserve by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,448,977 shares of the industrial products company’s stock valued at $180,024,000 after purchasing an additional 118,254 shares during the period. Institutional investors own 93.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Brian D. Savoy acquired 1,000 shares of Flowserve stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the purchase, the director owned 1,000 shares in the company, valued at $67,340. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

Flowserve Trading Up 1.6%

Flowserve stock opened at $79.92 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.58 and a debt-to-equity ratio of 0.91. The business’s fifty day simple moving average is $74.26 and its two-hundred day simple moving average is $77.01. Flowserve Corporation has a 12 month low of $48.71 and a 12 month high of $92.41. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.23.

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 the consensus estimate of $0.86 by $0.09. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $0.91 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, equities analysts predict that Flowserve Corporation will post 4.1 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 26th. Flowserve’s dividend payout ratio is 30.88%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FLS. Stifel Nicolaus upped their price target on Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. TD Cowen lowered Flowserve from a “buy” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, June 24th. Royal Bank Of Canada lifted their price target on shares of Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Citigroup reissued a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group set a $82.00 price objective on shares of Flowserve in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target 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.