Norges Bank Takes Position in Flowserve Corporation $FLS

Norges Bank acquired a new position in shares of Flowserve Corporation (NYSE:FLS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,700,253 shares of the industrial products company’s stock, valued at approximately $117,964,000. Norges Bank owned approximately 1.34% of Flowserve at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FLS. Goldman Sachs Group Inc. increased its position in Flowserve by 48.2% during the first quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock worth $23,047,000 after buying an additional 153,553 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Flowserve in the second quarter valued at $313,000. First Trust Advisors LP lifted its position in shares of Flowserve by 6.0% in the second quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company’s stock valued at $7,040,000 after acquiring an additional 7,624 shares in the last quarter. Cresset Asset Management LLC boosted its stake in shares of Flowserve by 24.1% during the second quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company’s stock valued at $749,000 after acquiring an additional 2,769 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Flowserve by 10.5% during the 2nd quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company’s stock worth $12,190,000 after purchasing an additional 22,108 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Up 0.1%

Shares of NYSE FLS opened at $75.47 on Friday. The stock has a market capitalization of $9.65 billion, a PE ratio of 27.95, a P/E/G ratio of 1.70 and a beta of 1.22. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $75.56 and a 200-day moving average of $76.07. Flowserve Corporation has a 52-week low of $45.11 and a 52-week high of $92.41.

Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating 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 firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’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. On average, analysts anticipate that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders 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 currently 32.59%.

Insider Buying and Selling at Flowserve

In other Flowserve news, Director Brian D. Savoy bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $67.34 per share, with a total value of $67,340.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FLS. Weiss Ratings downgraded shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Citigroup reiterated a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. TD Cowen reissued a “buy” rating on shares of Flowserve in a research note on Friday, May 1st. Royal Bank Of Canada decreased their target price on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research note on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.