Kentucky Retirement Systems Invests $908,000 in Flowserve Corporation $FLS

Kentucky Retirement Systems acquired a new position in shares of Flowserve Corporation (NYSE:FLS) in the first quarter, Holdings Channel reports. The institutional investor acquired 11,515 shares of the industrial products company’s stock, valued at approximately $908,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Flowserve by 1,300.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock worth $14,967,000 after buying an additional 189,165 shares during the period. Bullseye Asset Management LLC raised its stake in shares of Flowserve by 54.5% in the 4th quarter. Bullseye Asset Management LLC now owns 85,000 shares of the industrial products company’s stock valued at $5,897,000 after acquiring an additional 30,000 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Flowserve by 142.4% in the 4th quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company’s stock worth $72,720,000 after acquiring an additional 615,769 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Flowserve by 27.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 72,950 shares of the industrial products company’s stock worth $5,061,000 after acquiring an additional 15,850 shares during the last quarter. Finally, Horizon Investments LLC purchased a new position in shares of Flowserve during the 4th quarter worth approximately $4,826,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Flowserve news, Director Brian D. Savoy acquired 1,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was acquired 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 $67,340. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Flowserve Price Performance

FLS stock opened at $76.13 on Friday. Flowserve Corporation has a 1 year low of $48.71 and a 1 year high of $92.41. The firm has a market capitalization of $9.68 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.63. The business’s 50-day moving average is $73.73 and its two-hundred day moving average is $76.90.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Flowserve had a net margin of 8.01% and a return on equity of 21.42%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. Analysts anticipate that Flowserve Corporation will post 4.06 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, June 26th. Flowserve’s payout ratio is 32.59%.

Analyst Ratings Changes

Several research firms recently weighed in on FLS. Citigroup reiterated a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Wall Street Zen cut Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Stifel Nicolaus raised their price target on Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group set a $82.00 price objective on Flowserve in a research note on Thursday. Finally, TD Cowen downgraded Flowserve from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.60.

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.