Clearstead Advisors LLC Sells 6,291 Shares of Flowserve Corporation $FLS

Clearstead Advisors LLC trimmed its holdings in Flowserve Corporation (NYSE:FLS) by 84.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,156 shares of the industrial products company’s stock after selling 6,291 shares during the quarter. Clearstead Advisors LLC’s holdings in Flowserve were worth $61,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Flowserve by 0.5% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,128 shares of the industrial products company’s stock worth $2,345,000 after purchasing an additional 200 shares during the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Flowserve by 0.7% in the third quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock worth $1,456,000 after buying an additional 200 shares during the period. Arizona State Retirement System lifted its stake in shares of Flowserve by 0.7% in the 3rd quarter. Arizona State Retirement System now owns 38,689 shares of the industrial products company’s stock valued at $2,056,000 after acquiring an additional 263 shares during the last quarter. MJP Associates Inc. ADV lifted its stake in shares of Flowserve by 6.2% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,580 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 266 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Flowserve by 19.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,663 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 271 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.1%

NYSE:FLS opened at $88.24 on Monday. The company has a 50-day moving average price of $79.11 and a 200-day moving average price of $66.90. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 1.95 and a beta of 1.26. The company has a current ratio of 2.03, a quick ratio of 1.50 and a debt-to-equity ratio of 0.68. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $92.41.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Thursday, February 5th. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. The company had revenue of $1.22 billion during 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%. Flowserve’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 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Equities analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a dividend of $0.22 per share. This is a boost from Flowserve’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 27th. Flowserve’s dividend payout ratio is presently 32.06%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLS. UBS Group lifted their price target on Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings downgraded shares of Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, February 18th. TD Cowen reiterated a “buy” rating on shares of Flowserve in a report on Thursday, February 19th. 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, The Goldman Sachs Group reissued a “neutral” rating and issued a $88.00 price target on shares of Flowserve in a report on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.