VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 71,000 Flowserve Corporation $FLS

Key Points

• Virginia Retirement Systems purchased 71,000 Flowserve shares worth approximately $5.3 million, while institutional investors collectively own 93.93% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $86.60; targets from several firms range from $82 to $94.
• Flowserve exceeded quarterly earnings expectations, reporting $0.95 EPS versus $0.86 forecast and $1.17 billion in revenue. The company also declared a quarterly dividend of $0.22 per share, equivalent to a 1.1% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Flowserve Corporation (NYSE:FLS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 71,000 shares of the industrial products company's stock, valued at approximately $5,265,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of Flowserve at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Comprehensive Money Management Services LLC lifted its holdings in Flowserve by 1.5% in the first quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company's stock valued at $625,000 after acquiring an additional 125 shares during the last quarter. BTC Capital Management Inc. increased its stake in Flowserve by 2.5% during the first quarter. BTC Capital Management Inc. now owns 6,531 shares of the industrial products company's stock worth $480,000 after acquiring an additional 162 shares during the last quarter. Parallel Advisors LLC raised 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 valued at $51,000 after purchasing an additional 162 shares during the period. IFP Advisors Inc lifted its stake in shares of Flowserve by 24.4% in the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 163 shares during the last quarter. Finally, Inspire Advisors LLC grew its holdings in shares of Flowserve by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company's stock worth $324,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FLS. Robert W. Baird set a $93.00 price objective on Flowserve in a research report on Friday, July 31st. TD Cowen lowered shares of Flowserve from a "buy" rating to a "hold" rating and lowered their target price for the stock from $85.00 to $70.00 in a research note on Wednesday, June 24th. Stifel Nicolaus lifted their price target on shares of Flowserve from $92.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, July 31st. The Goldman Sachs Group set a $82.00 price target on shares of Flowserve in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada upped their price objective on shares of Flowserve from $91.00 to $94.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.60.

Flowserve Stock Performance

Shares of Flowserve stock opened at $77.05 on Wednesday. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58. The business has a 50-day moving average of $75.44 and a 200 day moving average of $76.59. Flowserve Corporation has a 12 month low of $48.71 and a 12 month high of $92.41.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The business's quarterly revenue was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, sell-side analysts forecast that Flowserve Corporation will post 4.1 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 25th. Flowserve's dividend payout ratio (DPR) is presently 30.88%.

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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