Allspring Global Investments Holdings LLC Increases Holdings in Flowserve Corporation $FLS

Allspring Global Investments Holdings LLC lifted its holdings in Flowserve Corporation (NYSE:FLS) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,587 shares of the industrial products company’s stock after acquiring an additional 35,037 shares during the period. Allspring Global Investments Holdings LLC owned 0.28% of Flowserve worth $26,811,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. UBS Group AG increased its holdings in Flowserve by 67.8% in the 3rd quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock valued at $220,367,000 after acquiring an additional 1,676,284 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Flowserve by 9.9% during the third quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company’s stock valued at $171,648,000 after purchasing an additional 290,226 shares in the last quarter. Nuveen LLC grew its position in shares of Flowserve by 6.1% during the fourth quarter. Nuveen LLC now owns 2,777,288 shares of the industrial products company’s stock valued at $192,688,000 after purchasing an additional 158,661 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Flowserve by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,745,206 shares of the industrial products company’s stock worth $190,468,000 after purchasing an additional 299,346 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Flowserve by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 2,448,977 shares of the industrial products company’s stock worth $180,024,000 after buying an additional 118,254 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

Flowserve stock opened at $66.73 on Tuesday. Flowserve Corporation has a 12-month low of $48.71 and a 12-month high of $92.41. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $72.90 and a 200-day moving average price of $76.91. The firm has a market capitalization of $8.53 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $0.72 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities research analysts forecast that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, June 26th. Flowserve’s dividend payout ratio is 32.59%.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of research reports. TD Cowen lowered Flowserve from a “buy” rating to a “hold” rating and dropped their price target for the company from $85.00 to $70.00 in a research note on Wednesday, June 24th. Wall Street Zen cut Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Royal Bank Of Canada lowered their target price on Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 target price on shares of Flowserve in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $92.00 price target on shares of Flowserve in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.70.

Insider Buying and Selling

In other Flowserve news, Director Brian D. Savoy bought 1,000 shares of Flowserve stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at approximately $67,340. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by company insiders.

Flowserve Company 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.