Legal & General Group Plc Sells 13,449 Shares of Flowserve Corporation $FLS

Legal & General Group Plc lessened its position in Flowserve Corporation (NYSE:FLS) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 530,593 shares of the industrial products company’s stock after selling 13,449 shares during the period. Legal & General Group Plc’s holdings in Flowserve were worth $36,813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FLS. Goldman Sachs Group Inc. lifted its stake 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 worth $23,047,000 after buying an additional 153,553 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Flowserve in the second quarter worth approximately $313,000. First Trust Advisors LP lifted its stake 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 lifted its stake 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 worth $749,000 after buying an additional 2,769 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake 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 worth $12,190,000 after buying an additional 22,108 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Insider Buying and Selling

In other Flowserve news, Director Brian D. Savoy bought 1,000 shares of Flowserve stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Mizuho increased their price objective on shares of Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Wall Street Zen downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, TD Cowen restated a “buy” rating on shares of Flowserve in a research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Flowserve Stock Up 0.3%

Shares of Flowserve stock opened at $75.41 on Friday. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24. The company’s 50 day moving average is $75.43 and its 200 day moving average is $75.83. Flowserve Corporation has a twelve month low of $45.11 and a twelve month high of $92.41. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73.

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

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve’s dividend payout ratio is currently 32.59%.

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.