Flowserve Corporation $FLS Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in Flowserve Corporation (NYSE:FLS) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 352,901 shares of the industrial products company’s stock after selling 13,852 shares during the period. Rhumbline Advisers owned about 0.28% of Flowserve worth $18,753,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Boston Partners acquired a new stake in Flowserve in the 2nd quarter valued at about $223,561,000. Massachusetts Financial Services Co. MA increased its stake in shares of Flowserve by 104.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock worth $230,281,000 after buying an additional 2,213,406 shares during the period. Norges Bank purchased a new stake in shares of Flowserve during the second quarter worth approximately $88,247,000. Third Point LLC acquired a new stake in Flowserve in the second quarter valued at approximately $62,558,000. Finally, Merewether Investment Management LP purchased a new position in Flowserve in the second quarter worth approximately $46,555,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

Shares of FLS stock opened at $89.79 on Wednesday. The stock’s 50-day moving average is $76.23 and its two-hundred day moving average is $64.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 2.03. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $90.48. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 1.99 and a beta of 1.29.

Flowserve (NYSE:FLS) last announced its earnings results on Thursday, February 5th. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Flowserve had a return on equity of 21.19% and a net margin of 7.32%.The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Flowserve’s previous quarterly dividend of $0.21. Flowserve’s dividend payout ratio is presently 33.59%.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price objective on shares of Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Citigroup increased their target price on Flowserve from $85.00 to $98.00 and gave the company a “buy” rating in a report on Monday, February 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $88.00 price target on shares of Flowserve in a report on Monday, February 9th. UBS Group upped their price objective on Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Stifel Nicolaus raised their target price on Flowserve from $87.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.80.

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.