Public Sector Pension Investment Board Makes New $736,000 Investment in Flowserve Corporation $FLS

Public Sector Pension Investment Board acquired a new stake in shares of Flowserve Corporation (NYSE:FLS) in the third quarter, HoldingsChannel.com reports. The firm acquired 13,859 shares of the industrial products company’s stock, valued at approximately $736,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FLS. Boston Partners acquired a new stake in shares of Flowserve during the 2nd quarter worth about $223,561,000. Massachusetts Financial Services Co. MA grew its stake in 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 last quarter. Norges Bank bought a new stake in Flowserve during the second quarter worth about $88,247,000. Third Point LLC acquired a new stake in shares of Flowserve during the second quarter worth approximately $62,558,000. Finally, Merewether Investment Management LP bought a new position in shares of Flowserve in the second quarter valued at approximately $46,555,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

Flowserve stock opened at $88.21 on Tuesday. The business’s 50-day simple moving average is $77.51 and its 200 day simple moving average is $65.86. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.68. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of 33.67, a P/E/G ratio of 1.96 and a beta of 1.29. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $91.31.

Flowserve (NYSE:FLS) last released 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 company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.26 billion. Flowserve had a net margin of 7.32% and a return on equity of 21.19%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, research analysts anticipate 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. Shareholders of record on Friday, March 27th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. This is a boost from Flowserve’s previous quarterly dividend of $0.21. Flowserve’s dividend payout ratio (DPR) is presently 32.06%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FLS. The Goldman Sachs Group restated a “neutral” rating and set a $88.00 price target on shares of Flowserve in a research report on Monday, February 9th. Citigroup increased their target price on Flowserve from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Stifel Nicolaus raised their target price on Flowserve from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Wall Street Zen downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Mizuho increased their price objective on shares of Flowserve from $74.00 to $91.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.80.

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.