JPMorgan Chase & Co. Purchases 1,995,221 Shares of Flowserve Corporation $FLS

JPMorgan Chase & Co. grew its position in shares of Flowserve Corporation (NYSE:FLS) by 625.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,314,195 shares of the industrial products company’s stock after buying an additional 1,995,221 shares during the period. JPMorgan Chase & Co. owned 1.82% of Flowserve worth $122,978,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new stake in Flowserve during the second quarter valued at about $26,000. Hantz Financial Services Inc. raised its position in shares of Flowserve by 149.8% in the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 418 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Flowserve during the 3rd quarter valued at approximately $40,000. Toth Financial Advisory Corp purchased a new position in Flowserve in the 3rd quarter valued at approximately $53,000. Finally, CENTRAL TRUST Co bought a new stake in Flowserve during the 3rd quarter valued at $61,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FLS. Wall Street Zen cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Mizuho lifted their target price on Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Jefferies Financial Group upped their price target on Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Bank of America restated a “neutral” rating and issued a $73.00 price objective (up from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Finally, Stifel Nicolaus boosted their price objective on shares of Flowserve from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.80.

Flowserve Trading Up 0.8%

Shares of FLS opened at $88.90 on Monday. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $91.31. The company has a market capitalization of $11.31 billion, a P/E ratio of 33.93, a P/E/G ratio of 1.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.03 and a quick ratio of 1.50. The firm’s 50 day simple moving average is $77.18 and its 200 day simple moving average is $65.60.

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

Flowserve Increases Dividend

The company also recently declared 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 1.0%. This is an increase from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, March 27th. Flowserve’s dividend payout ratio is presently 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.