VIRGINIA RETIREMENT SYSTEMS ET Al Reduces Holdings in Flowserve Corporation $FLS

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in Flowserve Corporation (NYSE:FLS) by 79.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,208 shares of the industrial products company’s stock after selling 34,920 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Flowserve were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Flowserve by 3.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 157 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Flowserve by 20.1% in 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. IFP Advisors Inc increased its stake in shares of Flowserve by 24.4% in the 3rd 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. Pallas Capital Advisors LLC increased its stake in shares of Flowserve by 0.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 25,939 shares of the industrial products company’s stock worth $1,800,000 after acquiring an additional 217 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Flowserve by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,527 shares of the industrial products company’s stock worth $2,419,000 after acquiring an additional 217 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Insider Transactions at Flowserve

In related news, Director Brian D. Savoy purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $67.34 per share, with a total value of $67,340.00. Following the purchase, the director owned 1,000 shares of the company’s stock, valued at $67,340. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FLS shares. Citigroup restated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. TD Cowen reissued a “buy” rating on shares of Flowserve in a report on Friday, May 1st. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Flowserve in a report on Tuesday, March 31st. Weiss Ratings downgraded shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. Finally, Robert W. Baird set a $98.00 target price on shares of Flowserve in a report on Monday, February 9th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Flowserve Stock Down 0.0%

NYSE:FLS opened at $65.06 on Monday. Flowserve Corporation has a 1-year low of $45.11 and a 1-year high of $92.41. The company has a 50-day moving average of $76.65 and a 200 day moving average of $75.68. The firm has a market cap of $8.32 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, research analysts anticipate that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Flowserve’s dividend payout ratio (DPR) is currently 32.59%.

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.