First Trust Advisors LP Has $37.57 Million Stock Position in Flowserve Corporation $FLS

First Trust Advisors LP grew its stake in shares of Flowserve Corporation (NYSE:FLS) by 32.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 511,054 shares of the industrial products company’s stock after acquiring an additional 124,599 shares during the period. First Trust Advisors LP owned 0.40% of Flowserve worth $37,567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Flowserve by 9.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 17,936 shares of the industrial products company’s stock valued at $1,318,000 after purchasing an additional 1,532 shares during the period. DUTCH ASSET Corp grew its stake in shares of Flowserve by 99.3% in the first quarter. DUTCH ASSET Corp now owns 17,312 shares of the industrial products company’s stock valued at $1,273,000 after acquiring an additional 8,627 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Flowserve during the first quarter worth about $895,000. Parallel Advisors LLC boosted its holdings in Flowserve by 38.0% in the 1st quarter. Parallel Advisors LLC now owns 1,296 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 357 shares during the period. Finally, KBC Group NV grew its position in shares of Flowserve by 13.8% during the 1st quarter. KBC Group NV now owns 3,922 shares of the industrial products company’s stock worth $288,000 after purchasing an additional 477 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

FLS has been the topic of a number of recent research reports. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. 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 lowered shares of Flowserve from a “buy” rating to a “hold” rating and reduced their price target for the stock from $85.00 to $70.00 in a research report on Wednesday, June 24th. Citigroup restated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Finally, Wall Street Zen downgraded Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.70.

Flowserve Stock Performance

Shares of FLS stock opened at $72.63 on Tuesday. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.63 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 business’s 50-day moving average price is $73.25 and its 200-day moving average price is $76.89. Flowserve Corporation has a 12 month low of $48.71 and a 12 month high of $92.41.

Flowserve (NYSE:FLS) last issued its quarterly earnings data 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. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business earned $0.72 EPS. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Equities research analysts forecast that Flowserve Corporation will post 4.04 EPS for the current year.

Flowserve Dividend Announcement

The business also recently announced 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 1.2%. The ex-dividend date of this dividend was Friday, June 26th. Flowserve’s dividend payout ratio (DPR) is currently 32.59%.

Insider Activity at Flowserve

In related news, Director Brian D. Savoy purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $67.34 per share, with a total value of $67,340.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.71% of the company’s stock.

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.