VIRGINIA RETIREMENT SYSTEMS ET Al Sells 34,920 Shares of Flowserve Corporation $FLS

Key Points

• Virginia Retirement Systems ET Al cut its Flowserve stake by 79.1% in the fourth quarter, selling 34,920 shares and leaving it with 9,208 shares valued at about $639,000.
• Flowserve reported quarterly EPS of $0.85, topping estimates, though revenue of $1.07 billion fell short of expectations and declined 6.7% year over year.
• The company announced a quarterly dividend of $0.22 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $87.70.

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 79.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,208 shares of the industrial products company's stock after selling 34,920 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Flowserve were worth $639,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FLS. Goldman Sachs Group Inc. boosted its stake in shares of Flowserve by 48.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company's stock valued at $23,047,000 after purchasing an additional 153,553 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Flowserve in the 2nd quarter valued at $313,000. First Trust Advisors LP boosted its stake in shares of Flowserve by 6.0% in the 2nd quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company's stock valued at $7,040,000 after purchasing an additional 7,624 shares in the last quarter. Cresset Asset Management LLC boosted its stake in shares of Flowserve by 24.1% in the 2nd quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company's stock valued at $749,000 after purchasing an additional 2,769 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Flowserve by 10.5% in the 2nd quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company's stock valued at $12,190,000 after purchasing an additional 22,108 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Insider Activity at Flowserve

In related news, Director Brian D. Savoy bought 1,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $67.34 per share, with a total value of $67,340.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $67,340. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.71% of the company's stock.

Flowserve Trading Down 0.0%

Shares of FLS opened at $65.06 on Monday. The stock has a market capitalization of $8.32 billion, a P/E ratio of 24.10, a PEG ratio of 1.46 and a beta of 1.24. 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 has a fifty day simple moving average of $76.65 and a two-hundred day simple moving average of $75.68. Flowserve Corporation has a twelve month low of $45.11 and a twelve month high of $92.41.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, research analysts anticipate that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve's dividend payout ratio (DPR) is currently 32.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FLS. Zacks Research cut shares of Flowserve from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 15th. TD Cowen reissued a "buy" rating on shares of Flowserve in a research report on Friday, May 1st. Wall Street Zen cut shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Mizuho increased their price target 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. Finally, Robert W. Baird set a $98.00 price target on shares of Flowserve in a research report on Monday, February 9th. 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 has an average rating of "Moderate Buy" and a consensus price target of $87.70.

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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