Flowserve Corporation $FLS Position Cut by Congress Asset Management Co.

by · The Markets Daily

Congress Asset Management Co. trimmed its stake in Flowserve Corporation (NYSE:FLS – Free Report) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 571,051 shares of the industrial products company’s stock after selling 18,778 shares during the period. Congress Asset Management Co.’s holdings in Flowserve were worth $41,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Flowserve during the 2nd quarter valued at approximately $34,000. Global Retirement Partners LLC bought a new stake in Flowserve in the second quarter worth $38,000. Keating Financial Advisory Services Inc. purchased a new position in Flowserve during the second quarter worth $48,000. Trust Co. of Vermont purchased a new position in Flowserve during the second quarter worth $67,000. Finally, Root Financial Partners LLC increased its position in Flowserve by 96.7% during the first quarter. Root Financial Partners LLC now owns 944 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.2%

Flowserve stock traded down $0.88 during trading hours on Tuesday, hitting $73.42. The company had a trading volume of 2,226,113 shares, compared to its average volume of 1,895,827. The firm has a market cap of $9.33 billion, a P/E ratio of 25.76, a P/E/G ratio of 1.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15. Flowserve Corporation has a 1 year low of $48.71 and a 1 year high of $92.41. The company has a 50-day moving average price of $76.83 and a two-hundred day moving average price of $75.43.

Flowserve (NYSE:FLS – Get Free Report) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $0.91 earnings per share. The company’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. On average, sell-side analysts anticipate that Flowserve Corporation will post 4.1 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 25th. Flowserve’s dividend payout ratio (DPR) is presently 30.88%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FLS shares. TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and reduced their target price for the company from $85.00 to $70.00 in a research note on Wednesday, June 24th. Royal Bank Of Canada upped their price target on shares of Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Stifel Nicolaus raised their price objective on shares of Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. The Goldman Sachs Group set a $82.00 target price on Flowserve in a research report on Thursday, July 30th. Finally, Weiss Ratings raised Flowserve from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.60.

View Our Latest Analysis on Flowserve

Flowserve Profile

(Free Report)

Flowserve Corporation is a global manufacturer of engineered flow-control products and services. The company designs and produces pumps, valves, mechanical seals, and related equipment used to move, control, and protect the flow of liquids and gases in industrial systems.

Its products and services support a range of industries, including oil and gas, chemical processing, power generation, water management, mining, and general industrial markets. Flowserve also provides aftermarket services such as maintenance, repair, replacement parts, equipment upgrades, and technical support to help customers maintain the performance and reliability of their flow-control systems.

Flowserve traces its corporate heritage to businesses with roots dating back to the late 18th century and has developed into an international company serving customers across North America, Europe, Asia, the Middle East, and other global markets.

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