Pinnacle Associates Ltd. Increases Stake in Flowserve Corporation $FLS

Pinnacle Associates Ltd. raised its position in Flowserve Corporation (NYSE:FLS) by 531.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 25,565 shares of the industrial products company’s stock after acquiring an additional 21,515 shares during the period. Pinnacle Associates Ltd.’s holdings in Flowserve were worth $1,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hillsdale Investment Management Inc. purchased a new stake in shares of Flowserve in the third quarter valued at approximately $3,034,000. D.A. Davidson & CO. raised its position in Flowserve by 67.1% in the third quarter. D.A. Davidson & CO. now owns 34,914 shares of the industrial products company’s stock worth $1,855,000 after acquiring an additional 14,025 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 worth $230,281,000 after acquiring an additional 2,213,406 shares in the last quarter. Paradice Investment Management LLC acquired a new stake in Flowserve in the third quarter valued at $17,970,000. Finally, Allianz Asset Management GmbH lifted its holdings in Flowserve by 33.9% in the third quarter. Allianz Asset Management GmbH now owns 103,690 shares of the industrial products company’s stock valued at $5,510,000 after acquiring an additional 26,266 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 0.1%

NYSE:FLS opened at $78.78 on Thursday. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $92.41. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $80.70 and a 200-day simple moving average of $68.37. The company has a market capitalization of $10.03 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27.

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

Flowserve Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a $0.22 dividend. This is a boost from Flowserve’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, March 27th. Flowserve’s dividend payout ratio (DPR) is currently 32.06%.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Flowserve from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Robert W. Baird set a $98.00 price objective on shares of Flowserve in a research note on Monday, February 9th. Bank of America reissued a “neutral” rating and set a $73.00 price objective (up from $60.00) on shares of Flowserve in a report on Friday, November 14th. Royal Bank Of Canada upped their target price on shares of Flowserve from $83.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Finally, Weiss Ratings cut shares of Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, February 18th. One investment 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’s stock. According to MarketBeat, the stock presently has a consensus 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.