Hsbc Holdings PLC Sells 96,616 Shares of Flowserve Corporation $FLS

Hsbc Holdings PLC lessened its stake in shares of Flowserve Corporation (NYSE:FLS) by 94.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,302 shares of the industrial products company’s stock after selling 96,616 shares during the quarter. Hsbc Holdings PLC’s holdings in Flowserve were worth $368,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Parallel Advisors LLC increased its holdings in Flowserve by 20.1% in the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 162 shares in the last quarter. IFP Advisors Inc raised its position in Flowserve by 24.4% in the third 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 last quarter. Inspire Advisors LLC boosted its stake in shares of Flowserve by 3.7% during the fourth quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 165 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Flowserve by 8.1% during the fourth quarter. UMB Bank n.a. now owns 2,230 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 168 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Flowserve by 1.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,002 shares of the industrial products company’s stock worth $1,318,000 after purchasing an additional 193 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Performance

FLS stock opened at $68.43 on Friday. The firm has a market cap of $8.75 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.56 and a beta of 1.23. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $72.98 and a 200-day moving average price of $76.89. Flowserve Corporation has a 1-year low of $48.71 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. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business posted $0.72 EPS. Flowserve’s revenue for the quarter was down 6.7% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities research analysts expect that Flowserve Corporation will post 4.05 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 1.3%. Flowserve’s dividend payout ratio (DPR) is presently 32.59%.

Insiders Place Their Bets

In related news, Director Brian D. Savoy bought 1,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price 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. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on FLS shares. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Weiss Ratings lowered shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. TD Cowen cut shares of Flowserve from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $70.00 in a research note on Wednesday, June 24th. Royal Bank Of Canada reduced their price objective on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and an average price target of $86.70.

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.