Bullseye Asset Management LLC Invests $2.92 Million in Flowserve Corporation $FLS

Bullseye Asset Management LLC bought a new stake in Flowserve Corporation (NYSE:FLS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 55,000 shares of the industrial products company’s stock, valued at approximately $2,923,000. Flowserve comprises about 1.5% of Bullseye Asset Management LLC’s investment portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BOKF NA acquired a new stake in shares of Flowserve in the third quarter valued at $28,000. Bruce G. Allen Investments LLC acquired a new position in Flowserve during the 3rd quarter worth about $40,000. Parallel Advisors LLC lifted its stake in Flowserve by 20.1% during the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 162 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in Flowserve during the 3rd quarter valued at about $53,000. Finally, CENTRAL TRUST Co acquired a new position in Flowserve in the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of recent research reports. Robert W. Baird set a $98.00 price target on shares of Flowserve in a research note on Monday, February 9th. Mizuho raised their price objective on shares of Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Jefferies Financial Group upped their target price on shares of Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Zacks Research upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 2nd. Finally, Bank of America reissued a “neutral” rating and issued a $73.00 price target (up from $60.00) on shares of Flowserve in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target of $88.80.

Flowserve Price Performance

Shares of FLS opened at $74.22 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.03 and a quick ratio of 1.50. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $92.41. The stock has a market cap of $9.45 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.68 and a beta of 1.27. The firm has a fifty day moving average price of $80.89 and a 200 day moving average price of $68.57.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Thursday, February 5th. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.17. Flowserve had a return on equity of 21.19% and a net margin of 7.32%.The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company posted $0.70 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, sell-side analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current 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 given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. This is a positive change 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.