Flowserve Corporation $FLS Stake Lessened by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its holdings in Flowserve Corporation (NYSE:FLS) by 22.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,582 shares of the industrial products company’s stock after selling 47,764 shares during the period. Peregrine Capital Management LLC’s holdings in Flowserve were worth $12,098,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Comprehensive Money Management Services LLC raised its position in Flowserve by 1.5% during the first quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company’s stock valued at $625,000 after buying an additional 125 shares during the period. EverSource Wealth Advisors LLC boosted its position in Flowserve by 3.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 157 shares during the period. BTC Capital Management Inc. grew its stake in Flowserve by 2.5% during the 1st quarter. BTC Capital Management Inc. now owns 6,531 shares of the industrial products company’s stock valued at $480,000 after acquiring an additional 162 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Flowserve by 20.1% in the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 162 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Flowserve by 24.4% in the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insider Activity

In other Flowserve 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 owned 1,000 shares of the company’s stock, valued at approximately $67,340. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on FLS. Stifel Nicolaus set a $92.00 price target on shares of Flowserve in a report on Friday, May 1st. Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada cut their target price on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Wall Street Zen lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Jefferies Financial Group restated a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Flowserve in a report on Tuesday, March 31st. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.70.

Flowserve Trading Up 1.2%

NYSE:FLS opened at $74.16 on Wednesday. The company has a market capitalization of $9.48 billion, a P/E ratio of 27.47, a P/E/G ratio of 1.65 and a beta of 1.22. The stock’s 50 day moving average price is $75.24 and its 200 day moving average price is $76.97. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. Flowserve Corporation has a 52 week low of $48.71 and a 52 week high of $92.41.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, research analysts forecast that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve’s payout ratio is presently 32.59%.

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.