Legal & General Group Plc Makes New $12.54 Million Investment in Flowserve Corporation $FLS

Legal & General Group Plc acquired a new position in Flowserve Corporation (NYSE:FLS) during the second quarter, according to its most recent filing with the SEC. The firm acquired 169,077 shares of the industrial products company’s stock, valued at approximately $12,539,000. Legal & General Group Plc owned about 0.13% of Flowserve as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Flowserve by 1,300.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock valued at $14,967,000 after purchasing an additional 189,165 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Flowserve by 142.4% in the fourth quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company’s stock worth $72,720,000 after buying an additional 615,769 shares during the period. Hillsdale Investment Management Inc. boosted its position in Flowserve by 27.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 72,950 shares of the industrial products company’s stock valued at $5,061,000 after acquiring an additional 15,850 shares in the last quarter. Horizon Investments LLC bought a new stake in Flowserve during the 4th quarter valued at approximately $4,826,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Flowserve by 7.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 699,295 shares of the industrial products company’s stock worth $51,405,000 after acquiring an additional 48,480 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings lowered Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Stifel Nicolaus upped their price target on Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their price objective on Flowserve from $91.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Robert W. Baird set a $93.00 price objective on Flowserve in a research report on Friday, July 31st. Finally, The Goldman Sachs Group set a $82.00 price objective on Flowserve in a research report on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and an average price target of $86.60.

Flowserve Stock Down 1.4%

NYSE:FLS opened at $79.22 on Tuesday. The firm has a market cap of $10.07 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.79 and a beta of 1.23. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15. Flowserve Corporation has a fifty-two week low of $48.71 and a fifty-two week high of $92.41. The firm has a 50-day simple moving average of $75.15 and a two-hundred day simple moving average of $77.08.

Flowserve (NYSE:FLS) last issued its 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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. Analysts predict that Flowserve Corporation will post 4.1 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.88 annualized dividend and a yield of 1.1%. Flowserve’s dividend payout ratio is 30.88%.

Flowserve 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.