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

Key Points

• Legal & General Group Plc reduced its Flowserve stake by 2.5% in the fourth quarter, selling 13,449 shares and leaving it with 530,593 shares valued at about $36.8 million.
• Wall Street sentiment remains mostly positive: analysts have eight Buy ratings and three Hold ratings on Flowserve, with an average Moderate Buy rating and a $87.70 price target.
• Flowserve beat earnings expectations in its latest quarter, reporting $0.85 EPS versus $0.82 expected, though revenue came in below estimates and fell 6.7% year over year; the company also announced a quarterly dividend of $0.22 per share.

Legal & General Group Plc decreased its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 owned approximately 0.42% of Flowserve worth $36,813,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. New Age Alpha Advisors LLC boosted its stake in shares of Flowserve by 701.1% during the 4th quarter. New Age Alpha Advisors LLC now owns 34,944 shares of the industrial products company's stock valued at $2,424,000 after purchasing an additional 30,582 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Flowserve by 205.4% during the 4th quarter. Hantz Financial Services Inc. now owns 3,836 shares of the industrial products company's stock valued at $266,000 after purchasing an additional 2,580 shares in the last quarter. Systematic Financial Management LP bought a new stake in shares of Flowserve during the 4th quarter valued at about $11,123,000. William Blair Investment Management LLC boosted its stake in shares of Flowserve by 142.4% during the 4th quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company's stock valued at $72,720,000 after purchasing an additional 615,769 shares in the last quarter. Finally, Evoke Wealth LLC bought a new stake in shares of Flowserve during the 4th quarter valued at about $204,000. Institutional investors own 93.93% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $90.00 target price (down from $100.00) on shares of Flowserve in a research note on Tuesday, March 31st. Zacks Research lowered shares of Flowserve from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 15th. Mizuho boosted their price objective on shares of Flowserve from $74.00 to $91.00 and gave the stock an "outperform" rating in a research note on Monday, February 9th. Royal Bank Of Canada dropped their price objective on shares of Flowserve from $98.00 to $91.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Finally, Stifel Nicolaus set a $92.00 price objective on shares of Flowserve in a research note on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and an average price target of $87.70.

Insider Activity

In other news, Director Brian D. Savoy bought 1,000 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company's stock.

Flowserve Trading Up 0.3%

NYSE:FLS opened at $75.41 on Friday. Flowserve Corporation has a one year low of $45.11 and a one year high of $92.41. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63. The company's 50-day simple moving average is $75.43 and its 200 day simple moving average is $75.83. The firm has a market capitalization of $9.64 billion, a P/E ratio of 27.93, a PEG ratio of 1.70 and a beta of 1.24.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Flowserve's quarterly revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, analysts forecast that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Dividend Announcement

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

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.

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