Royal Bank of Canada Sells 518,272 Shares of Flowserve Corporation $FLS

Royal Bank of Canada trimmed its holdings in Flowserve Corporation (NYSE:FLS) by 60.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,596 shares of the industrial products company’s stock after selling 518,272 shares during the quarter. Royal Bank of Canada’s holdings in Flowserve were worth $24,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Comprehensive Money Management Services LLC grew its stake in Flowserve by 1.5% during the first quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 125 shares during the period. BTC Capital Management Inc. lifted its stake in Flowserve by 2.5% in the first quarter. BTC Capital Management Inc. now owns 6,531 shares of the industrial products company’s stock valued at $480,000 after buying an additional 162 shares during the period. Parallel Advisors LLC lifted its stake in Flowserve by 20.1% in the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after buying an additional 162 shares during the period. IFP Advisors Inc boosted its holdings in shares of Flowserve by 24.4% during the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after buying an additional 163 shares in the last quarter. Finally, Inspire Advisors LLC boosted its holdings in shares of Flowserve by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company’s stock worth $324,000 after buying an additional 165 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

FLS has been the subject of several recent analyst reports. TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $70.00 in a research report on Wednesday, June 24th. Royal Bank Of Canada increased their target price on shares of Flowserve from $91.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday. The Goldman Sachs Group set a $82.00 price target on shares of Flowserve in a report on Thursday, July 30th. Citigroup reaffirmed a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Finally, Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $86.60.

Flowserve Trading Up 3.9%

NYSE FLS opened at $79.55 on Wednesday. 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 Corporation has a 52 week low of $48.71 and a 52 week high of $92.41. The business has a 50 day moving average price of $74.00 and a 200-day moving average price of $76.96. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 1.70 and a beta of 1.23.

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

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 26th. Flowserve’s dividend payout ratio (DPR) is 30.88%.

Insider Buying and Selling at Flowserve

In other Flowserve news, Director Brian D. Savoy acquired 1,000 shares of Flowserve stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at $67,340. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

Flowserve Profile

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.