Thrivent Financial for Lutherans Grows Stake in Flowserve Corporation $FLS

Thrivent Financial for Lutherans grew its holdings in Flowserve Corporation (NYSE:FLS) by 33.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,027,682 shares of the industrial products company’s stock after acquiring an additional 508,060 shares during the quarter. Thrivent Financial for Lutherans owned about 1.60% of Flowserve worth $140,729,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. BOKF NA purchased a new position in shares of Flowserve in the 3rd quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new position in Flowserve during the 3rd quarter worth approximately $36,000. Bruce G. Allen Investments LLC purchased a new position in Flowserve during the 3rd quarter worth approximately $40,000. IFP Advisors Inc grew its stake in Flowserve by 24.4% during the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after buying an additional 163 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Flowserve by 20.1% during the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 2.3%

Flowserve stock opened at $68.01 on Friday. Flowserve Corporation has a twelve month low of $45.11 and a twelve month high of $92.41. The stock has a 50 day moving average of $77.01 and a two-hundred day moving average of $75.60. 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 market capitalization of $8.69 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.50 and a beta of 1.24.

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

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve’s dividend payout ratio (DPR) is presently 32.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. The Goldman Sachs Group restated a “neutral” rating and set a $83.00 price target on shares of Flowserve in a research note on Thursday, April 30th. Jefferies Financial Group restated a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Flowserve in a research note on Tuesday, March 31st. Royal Bank Of Canada dropped their price target on Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Weiss Ratings upgraded Flowserve from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Mizuho raised their price target on Flowserve from $74.00 to $91.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.70.

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.