Bank of America Corp DE Buys 192,595 Shares of Flowserve Corporation $FLS
Bank of America Corp DE boosted its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 19. 9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159,171 shares of the industrial product
Bank of America Corp DE boosted its stake in Flowserve Corporation (NYSE:FLS-Free Report) by 19. 9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159,171 shares of the industrial products company's stock after purchasing an additional 192,595 shares during the quarter. Bank of America Corp DE owned about 0. 91% of Flowserve worth $85,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 3 Manufacturing Stocks Leading the Export WaveSeveral other hedge funds have also bought and sold shares of the stock. Atlas Capital Advisors Inc. purchased a new position in Flowserve in the 4th quarter worth approximately $36,000. BOKF NA purchased a new stake in shares of Flowserve during the 3rd quarter valued at $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Flowserve during the 3rd quarter worth $36,000. IFP Advisors Inc grew its position in Flowserve by 24. 4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company's stock worth $46,000 after acquiring an additional 163 shares in the last quarter. Finally, Root Financial Partners LLC lifted its stake in Flowserve by 96. 7% during the first quarter. Root Financial Partners LLC now owns 944 shares of the industrial products company's stock worth $69,000 after purchasing an additional 464 shares during the last quarter. 93. 93% of the stock is currently owned by institutional investors. GetFlowservealerts:Wall Street Analyst Weigh InA number of equities analysts recently weighed in on the company. Weiss Ratingscut Flowserve from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. Citigroup reissued a "buy" rating on shares of Flowserve in a research note on Thursday, April 30th. TD Cowen cut shares of Flowserve from a "buy" rating to a "hold" rating and cut their price objective for the company from $85. 00 to $70. 00 in a research note on Wednesday, June 24th. Stifel Nicolaus lifted their target price on shares of Flowserve from $92. 00 to $94. 00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally,Wall Street Zendowngraded shares of Flowserve from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat. com, the stock has a consensus rating of "Moderate Buy" and an average target price of $86. 60. Get Our Latest Report on FLSInsider Buying and Selling at FlowserveIn other Flowserve news, DirectorBrian D. Savoybought 1,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $67. 34 per share, with a total value of $67,340. 00. Following the completion of the purchase, the director directly owned 1,000 shares of the company's stock, valued at $67,340. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available atthis link. Corporate insiders own 0. 71% of the company's stock. Flowserve Stock Up 1. 6%Shares ofFlowserve stockopened at $79. 92 on Friday. 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 52-week low of $48. 71 and a 52-week high of $92. 41. The stock has a market capitalization of $10. 16 billion, a price-to-earnings ratio of 28. 04, a P/E/G ratio of 1. 78 and a beta of 1. 23. The company's 50 day moving average price is $74. 26 and its 200-day moving average price is $77. 01. Flowserve (NYSE:FLS-Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0. 95 EPS for the quarter, beating analysts' consensus estimates of $0. 86 by $0. 09. The company had revenue of $1. 17 billion during the quarter, compared to analyst estimates of $1. 16 billion. Flowserve had a net margin of 8. 01% and a return on equity of 21. 42%. The firm's revenue was down 1. 6% compared to the same quarter last year. During the same period in the prior year, the business posted $0. 91 EPS. Flowserve has set its FY 2026 guidance at 4. 050-4. 200 EPS. Equities research analysts forecast that Flowserve Corporation will post 4. 1 EPS for the current year. Flowserve Announces DividendThe company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0. 22 per share. This represents a $0. 88 dividend on an annualized basis and a dividend yield of 1. 1%. The ex-dividend date was Friday, June 26th. Flowserve's dividend payout ratio is currently 30. 88%. About Flowserve(Free Report)Flowserve CorporationNYSE: FLSis 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. 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