Freestone Grove builds $80.4M Flowserve stake as analysts turn bullish
What's the deal? Freestone Grove Partners LPDealroom has a profile for this one. Try Dealroom → bought a new stake in Flowserve CorporationDealroom has a profile for this one. Try Dealroom → (NYSE:FLS) during the second quarter, according to Holdings Channel. The firm acquired 1,083,629 shares valued at roughly $80,362,000.
What does Flowserve do? The company is a provider of fluid motion and control products, designing and servicing pumps, mechanical seals, valves, and related flow management equipment. Its products serve oil and gas, power generation, chemical processing, water management, pharmaceutical, semiconductor, and mining markets.
Who else is buying? Freestone Grove joins a wave of institutional buyers. BlackRock took a new stake worth about $999,631,000 in the second quarter, Bank of New York MellonDealroom has a profile for this one. Try Dealroom → added a position worth $177,380,000, and William Blair Investment ManagementDealroom has a profile for this one. Try Dealroom → bought in at $84,869,000. UBS GroupDealroom has a profile for this one. Try Dealroom → raised its holding 67.8% in the third quarter to 4,146,917 shares worth $220,367,000. Institutions and hedge funds now own 93.93% of the stock.
By the numbers: Flowserve carries a market capitalisation of $10.53 billion, a P/E ratio of 29.08, and a beta of 1.23. Shares opened at $82.88 on Thursday, near the top of a 52-week range of $48.71 to $92.41.
How's business? Flowserve reported earnings on July 29, posting $0.95 earnings per share and beating the consensus estimate of $0.86. Revenue was $1.17 billion, ahead of the $1.16 billion analysts expected but down 1.6% year on year. The company guided FY 2026 EPS to a range of $4.05 to $4.20.
What are analysts saying? Weiss RatingsDealroom has a profile for this one. Try Dealroom → upgraded the stock to "buy" on August 11. Stifel NicolausDealroom has a profile for this one. Try Dealroom → and Royal Bank of CanadaDealroom has a profile for this one. Try Dealroom → each lifted their price targets to $94.00, while Goldman SachsDealroom has a profile for this one. Try Dealroom → set an $82.00 target. Seven analysts rate the stock a buy and four rate it a hold, giving a "Moderate Buy" consensus and an average target of $86.60.
The signal: Heavy institutional buying and rising price targets point to growing conviction in Flowserve's industrial franchise, even as quarterly revenue slipped. With shares trading near their 52-week high and above the consensus target, the near-term upside now looks priced in.
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