Kentucky Retirement Systems Takes Position in Flowserve Corporation $FLS

Kentucky Retirement Systems purchased a new position in Flowserve Corporation (NYSE:FLS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,515 shares of the industrial products company’s stock, valued at approximately $908,000.

Other large investors also recently bought and sold shares of the company. UBS Group AG grew its holdings in Flowserve by 67.8% in the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock valued at $220,367,000 after purchasing an additional 1,676,284 shares during the period. AQR Capital Management LLC raised its stake in shares of Flowserve by 9.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company’s stock worth $171,648,000 after buying an additional 290,226 shares during the period. Nuveen LLC raised its stake in shares of Flowserve by 6.1% during the 4th quarter. Nuveen LLC now owns 2,777,288 shares of the industrial products company’s stock worth $192,688,000 after buying an additional 158,661 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Flowserve by 12.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,745,206 shares of the industrial products company’s stock valued at $190,468,000 after buying an additional 299,346 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Flowserve by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 2,448,977 shares of the industrial products company’s stock valued at $180,024,000 after buying an additional 118,254 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group set a $82.00 price target on shares of Flowserve in a research note on Thursday. TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and decreased their price objective for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Citigroup reaffirmed a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings cut shares of Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.60.

Insider Buying and Selling at Flowserve

In other news, Director Brian D. Savoy purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at approximately $67,340. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is currently owned by company insiders.

Flowserve Trading Up 1.1%

Shares of FLS stock opened at $76.13 on Friday. The company’s 50-day moving average price is $73.73 and its 200-day moving average price is $76.90. The company has a current ratio of 2.15, a quick ratio of 1.63 and a debt-to-equity ratio of 0.91. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.69 and a beta of 1.23. Flowserve Corporation has a twelve month low of $48.71 and a twelve month high of $92.41.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Flowserve’s quarterly revenue was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, equities analysts predict that Flowserve Corporation will post 4.06 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. Flowserve’s dividend payout ratio is 32.59%.

Flowserve 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.