Legato Capital Management LLC Buys New Stake in Flowserve Corporation $FLS

Legato Capital Management LLC purchased a new position in shares of Flowserve Corporation (NYSE:FLS) during the third quarter, Holdings Channel.com reports. The fund purchased 21,099 shares of the industrial products company’s stock, valued at approximately $1,121,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLS. Hillsdale Investment Management Inc. acquired a new position in Flowserve in the 3rd quarter valued at $3,034,000. D.A. Davidson & CO. grew its holdings in shares of Flowserve by 67.1% during the third quarter. D.A. Davidson & CO. now owns 34,914 shares of the industrial products company’s stock worth $1,855,000 after buying an additional 14,025 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Flowserve by 104.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock valued at $230,281,000 after buying an additional 2,213,406 shares during the last quarter. Paradice Investment Management LLC purchased a new position in shares of Flowserve in the third quarter worth about $17,970,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Flowserve by 35.9% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 136,013 shares of the industrial products company’s stock worth $7,228,000 after acquiring an additional 35,955 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 4.6%

Shares of Flowserve stock opened at $83.51 on Wednesday. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $92.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 2.03. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.94 and a beta of 1.27. The stock has a 50 day moving average of $79.67 and a 200 day moving average of $67.36.

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

Flowserve Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on FLS shares. Royal Bank Of Canada increased their price objective on shares of Flowserve from $83.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Wall Street Zen cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. UBS Group lifted their price objective on Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. TD Cowen restated a “buy” rating on shares of Flowserve in a report on Thursday, February 19th. Finally, Robert W. Baird set a $98.00 price target on Flowserve in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.80.

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.