Flowserve Corporation $FLS Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its stake in Flowserve Corporation (NYSE:FLS) by 20.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 340,064 shares of the industrial products company’s stock after selling 85,023 shares during the period. NFJ Investment Group LLC’s holdings in Flowserve were worth $23,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in FLS. Goldman Sachs Group Inc. grew its position in shares of Flowserve by 48.2% in the first quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock valued at $23,047,000 after purchasing an additional 153,553 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Flowserve in the second quarter valued at approximately $313,000. First Trust Advisors LP grew its position in shares of Flowserve by 6.0% in the second quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company’s stock valued at $7,040,000 after purchasing an additional 7,624 shares in the last quarter. Cresset Asset Management LLC grew its position in shares of Flowserve by 24.1% in the second quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company’s stock valued at $749,000 after purchasing an additional 2,769 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Flowserve by 10.5% in the second quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company’s stock valued at $12,190,000 after purchasing an additional 22,108 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Flowserve news, Director Brian D. Savoy acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $67,340. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FLS. Weiss Ratings lowered Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Stifel Nicolaus set a $92.00 price target on Flowserve in a research report on Friday, May 1st. Citigroup restated a “buy” rating on shares of Flowserve in a research report on Thursday, April 30th. Finally, Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Flowserve Trading Up 0.0%

Shares of Flowserve stock opened at $78.11 on Friday. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 1.76 and a beta of 1.22. Flowserve Corporation has a fifty-two week low of $45.11 and a fifty-two week high of $92.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. The stock has a 50 day moving average of $75.84 and a 200 day moving average of $76.38.

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

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, June 26th. Flowserve’s dividend payout ratio is presently 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.