Louisiana State Employees Retirement System Buys Shares of 36,800 Flowserve Corporation $FLS

Key Points

• Louisiana State Employees Retirement System opened a new position in Flowserve, buying 36,800 shares worth about $2.7 million in the first quarter.
• Flowserve reported better-than-expected quarterly earnings of $0.85 per share, though revenue of $1.07 billion fell short of estimates and declined 6.7% year over year.
• The company also declared a quarterly dividend of $0.22 per share, while analysts currently view the stock as a Moderate Buy with a consensus target price of $86.70.

Louisiana State Employees Retirement System purchased a new position in Flowserve Corporation (NYSE:FLS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 36,800 shares of the industrial products company's stock, valued at approximately $2,705,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Flowserve in the 4th quarter worth $36,000. BOKF NA bought a new stake in Flowserve during the third quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new stake in Flowserve during the third quarter valued at about $36,000. IFP Advisors Inc increased its position in Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company's stock worth $46,000 after buying an additional 163 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Flowserve by 20.1% in the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company's stock worth $51,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Trading Up 0.3%

FLS stock opened at $72.79 on Monday. Flowserve Corporation has a twelve month low of $48.71 and a twelve month high of $92.41. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The firm's fifty day simple moving average is $75.53 and its two-hundred day simple moving average is $76.96.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results 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. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company's revenue for the quarter 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 anticipate that Flowserve Corporation will post 4.05 earnings per share for the current year.

Flowserve Announces Dividend

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

Analyst Upgrades and Downgrades

FLS has been the topic of a number of recent analyst reports. TD Cowen cut shares of Flowserve from a "buy" rating to a "hold" rating and decreased their target price for the stock from $85.00 to $70.00 in a research note on Wednesday. Wall Street Zen cut shares of Flowserve from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. 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. Royal Bank Of Canada lowered their target price 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, The Goldman Sachs Group reissued a "neutral" rating and set a $83.00 price target on shares of Flowserve in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.70.

Insider Activity

In related news, Director Brian D. Savoy acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $67.34 per share, with a total value of $67,340.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $67,340. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.71% of the company's stock.

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.

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