Flowserve Corporation $FLS Holdings Cut by Magnetar Financial LLC

Magnetar Financial LLC trimmed its position in shares of Flowserve Corporation (NYSE:FLS) by 59.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 55,376 shares of the industrial products company’s stock after selling 80,908 shares during the quarter. Magnetar Financial LLC’s holdings in Flowserve were worth $2,943,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in Flowserve by 5.1% in the third quarter. Van ECK Associates Corp now owns 95,171 shares of the industrial products company’s stock worth $5,057,000 after purchasing an additional 4,614 shares in the last quarter. Ceredex Value Advisors LLC boosted its stake in Flowserve by 109.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,001,985 shares of the industrial products company’s stock valued at $53,245,000 after purchasing an additional 522,685 shares during the period. Legal & General Group Plc grew its stake in shares of Flowserve by 123.7% in the third quarter. Legal & General Group Plc now owns 544,042 shares of the industrial products company’s stock worth $28,910,000 after acquiring an additional 300,827 shares during the last quarter. Swiss National Bank grew its position in Flowserve by 0.7% in the 3rd quarter. Swiss National Bank now owns 253,400 shares of the industrial products company’s stock worth $13,466,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Flowserve by 14.3% during the third quarter. Russell Investments Group Ltd. now owns 293,082 shares of the industrial products company’s stock valued at $15,575,000 after acquiring an additional 36,778 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $88.00 price target on shares of Flowserve in a report on Monday, February 9th. Mizuho lifted their price objective on Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. TD Cowen reaffirmed a “buy” rating on shares of Flowserve in a research note on Thursday, February 19th. Finally, Weiss Ratings cut shares of Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.80.

Flowserve Stock Up 0.1%

Shares of FLS stock opened at $78.78 on Thursday. The firm has a fifty day moving average of $80.70 and a 200-day moving average of $68.37. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 1.74 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.68. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $92.41.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Thursday, February 5th. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.26 billion. Flowserve had a return on equity of 21.19% and a net margin of 7.32%.The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. This is a boost from Flowserve’s previous quarterly dividend of $0.21. Flowserve’s payout ratio is 32.06%.

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.