41,036 Shares in Flowserve Corporation $FLS Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Flowserve Corporation (NYSE:FLS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 41,036 shares of the industrial products company’s stock, valued at approximately $3,043,000.

Several other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in Flowserve by 48.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock worth $23,047,000 after purchasing an additional 153,553 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Flowserve during the second quarter valued at about $313,000. First Trust Advisors LP lifted its holdings 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 worth $7,040,000 after buying an additional 7,624 shares in the last quarter. Cresset Asset Management LLC boosted 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 acquiring an additional 2,769 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Flowserve by 10.5% during the 2nd quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company’s stock worth $12,190,000 after acquiring an additional 22,108 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Price Performance

FLS opened at $76.74 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.58 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $9.75 billion, a P/E ratio of 26.93, a PEG ratio of 1.71 and a beta of 1.25. The stock has a 50-day moving average price of $75.31 and a 200-day moving average price of $76.85. Flowserve Corporation has a 12-month low of $48.71 and a 12-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 for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.Flowserve’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.91 EPS. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. Equities analysts predict that Flowserve Corporation will post 4.1 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

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 issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. Flowserve’s dividend payout ratio (DPR) is currently 30.88%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird set a $93.00 price target on shares of Flowserve in a report on Friday, July 31st. The Goldman Sachs Group set a $82.00 price objective on Flowserve in a research note on Thursday, July 30th. Royal Bank Of Canada upped their target price on Flowserve from $91.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings lowered Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Finally, TD Cowen cut shares of Flowserve from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $85.00 to $70.00 in a research report on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.60.

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.