Illinois Municipal Retirement Fund Lowers Position in Flowserve Corporation $FLS

Illinois Municipal Retirement Fund lowered its stake in shares of Flowserve Corporation (NYSE:FLS) by 48.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,626 shares of the industrial products company’s stock after selling 7,206 shares during the period. Illinois Municipal Retirement Fund’s holdings in Flowserve were worth $405,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in FLS. Krilogy Financial LLC purchased a new position in shares of Flowserve in the 3rd quarter worth $507,000. Navellier & Associates Inc. raised its holdings in shares of Flowserve by 1.1% in the 3rd quarter. Navellier & Associates Inc. now owns 34,771 shares of the industrial products company’s stock worth $1,848,000 after purchasing an additional 376 shares during the period. Prospera Financial Services Inc lifted its stake in shares of Flowserve by 3.0% in the 3rd quarter. Prospera Financial Services Inc now owns 35,513 shares of the industrial products company’s stock valued at $1,887,000 after purchasing an additional 1,036 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Flowserve by 93.5% during the 3rd quarter. ProShare Advisors LLC now owns 12,598 shares of the industrial products company’s stock worth $669,000 after purchasing an additional 6,087 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Flowserve by 16.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 52,142 shares of the industrial products company’s stock worth $2,771,000 after purchasing an additional 7,247 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on FLS. Citigroup boosted their price objective on shares of Flowserve from $85.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Royal Bank Of Canada increased their price target on Flowserve from $83.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Jefferies Financial Group raised their price objective on Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. TD Cowen reaffirmed a “buy” rating on shares of Flowserve in a research report on Thursday. Finally, Wall Street Zen lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.80.

Flowserve Stock Performance

Shares of FLS stock opened at $88.90 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. The company’s fifty day moving average price is $77.18 and its two-hundred day moving average price is $65.44. The firm 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. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $91.31.

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

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, March 27th. Flowserve’s payout ratio is presently 33.59%.

Flowserve Company Profile

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.