169,077 Shares in Flowserve Corporation $FLS Purchased by Legal & General Group Plc

Legal & General Group Plc bought a new position in Flowserve Corporation (NYSE:FLS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 169,077 shares of the industrial products company’s stock, valued at approximately $12,539,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Flowserve during the 2nd quarter valued at about $999,631,000. UBS Group AG raised its holdings in shares of Flowserve by 67.8% during 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 last quarter. AQR Capital Management LLC lifted its position in Flowserve by 9.9% during the third quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company’s stock valued at $171,648,000 after purchasing an additional 290,226 shares during the period. Nuveen LLC lifted its position in Flowserve by 6.1% during the fourth quarter. Nuveen LLC now owns 2,777,288 shares of the industrial products company’s stock valued at $192,688,000 after purchasing an additional 158,661 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Flowserve by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,745,206 shares of the industrial products company’s stock worth $190,468,000 after purchasing an additional 299,346 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.4%

Shares of FLS stock opened at $79.22 on Tuesday. Flowserve Corporation has a 52-week low of $48.71 and a 52-week high of $92.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15. The firm has a market capitalization of $10.07 billion, a PE ratio of 27.80, a PEG ratio of 1.79 and a beta of 1.23. The stock has a fifty day simple moving average of $75.15 and a two-hundred day simple moving average of $77.08.

Flowserve (NYSE:FLS) 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. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.91 earnings per share. The business’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. On average, analysts predict that Flowserve Corporation will post 4.1 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 25th. Flowserve’s dividend payout ratio (DPR) is 30.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FLS shares. 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. Robert W. Baird set a $93.00 price target on Flowserve in a research note on Friday, July 31st. The Goldman Sachs Group set a $82.00 price objective on Flowserve in a report on Thursday, July 30th. TD Cowen cut Flowserve from a “buy” rating to a “hold” rating and reduced their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada increased their target price on Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Six equities research 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 company has a consensus rating of “Moderate Buy” and an average target price of $86.60.

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.