11,767 Shares in Flowserve Corporation $FLS Acquired by Horizon Investment Services LLC

Horizon Investment Services LLC bought a new stake in shares of Flowserve Corporation (NYSE:FLS) in the fourth quarter, HoldingsChannel.com reports. The firm bought 11,767 shares of the industrial products company’s stock, valued at approximately $816,000.

A number of other hedge funds have also added to or reduced their stakes in FLS. JPMorgan Chase & Co. raised its stake in Flowserve by 625.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock valued at $122,978,000 after buying an additional 1,995,221 shares during the last quarter. Norges Bank purchased a new stake in Flowserve during the 4th quarter valued at $117,964,000. UBS Group AG raised its stake in Flowserve by 67.8% during the 3rd quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock valued at $220,367,000 after buying an additional 1,676,284 shares during the last quarter. Merewether Investment Management LP purchased a new stake in Flowserve during the 2nd quarter valued at $46,555,000. Finally, Bank of New York Mellon Corp raised its stake in Flowserve by 36.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,330,723 shares of the industrial products company’s stock valued at $161,706,000 after buying an additional 626,100 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada decreased their target price on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research note 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, Weiss Ratings lowered shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and an average price target of $87.70.

Flowserve Trading Up 0.0%

NYSE:FLS opened at $78.11 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22. Flowserve Corporation has a one year low of $45.11 and a one year high of $92.41. The business has a fifty day moving average price of $75.84 and a 200-day moving average price of $76.38.

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, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. Flowserve’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Sell-side analysts forecast that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 1.1%. Flowserve’s dividend payout ratio is currently 32.59%.

Insiders Place Their Bets

In other 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 bought at an average price of $67.34 per share, with a total value of $67,340.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at approximately $67,340. This represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.71% of the company’s stock.

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.