Freestone Grove Partners LP Makes New $80.36 Million Investment in Flowserve Corporation $FLS

Freestone Grove Partners LP purchased a new stake in Flowserve Corporation (NYSE:FLS) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,083,629 shares of the industrial products company’s stock, valued at approximately $80,362,000.

Several other large investors have also modified their holdings of FLS. BlackRock Inc. acquired a new stake in shares of Flowserve in the second quarter worth approximately $999,631,000. Bank of New York Mellon Corp acquired a new position in Flowserve during the second quarter worth approximately $177,380,000. Norges Bank purchased a new position in Flowserve during the fourth quarter worth approximately $117,964,000. UBS Group AG raised its stake in Flowserve by 67.8% during the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after purchasing an additional 1,676,284 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Flowserve in the 2nd quarter valued at $84,869,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings raised shares of Flowserve from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Stifel Nicolaus increased their target price on Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Citigroup reiterated a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Royal Bank Of Canada lifted their target price on Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, The Goldman Sachs Group set a $82.00 price target on Flowserve in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $86.60.

Flowserve Price Performance

Flowserve stock opened at $82.88 on Thursday. Flowserve Corporation has a 52-week low of $48.71 and a 52-week high of $92.41. The firm has a fifty day moving average of $75.22 and a 200-day moving average of $77.19. The firm has a market capitalization of $10.53 billion, a P/E ratio of 29.08, a PEG ratio of 1.79 and a beta of 1.23. The company has a quick ratio of 1.58, a current ratio of 2.15 and a debt-to-equity ratio of 0.91.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.09. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, analysts predict that Flowserve Corporation will post 4.1 EPS for the current year.

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.