Elo Mutual Pension Insurance Co Trims Holdings in Flowserve Corporation $FLS

Elo Mutual Pension Insurance Co decreased its stake in shares of Flowserve Corporation (NYSE:FLS) by 35.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 17,292 shares of the industrial products company’s stock after selling 9,318 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Flowserve were worth $919,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Boston Partners purchased a new position in Flowserve during the 2nd quarter valued at about $223,561,000. Massachusetts Financial Services Co. MA boosted its position in shares of Flowserve by 104.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock valued at $230,281,000 after acquiring an additional 2,213,406 shares during the period. JPMorgan Chase & Co. grew its stake in Flowserve by 625.5% during the third quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock valued at $122,978,000 after acquiring an additional 1,995,221 shares in the last quarter. Norges Bank purchased a new position in Flowserve during the second quarter valued at approximately $88,247,000. Finally, Third Point LLC bought a new stake in Flowserve during the 2nd quarter worth approximately $62,558,000. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. 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. Jefferies Financial Group upped their price target on shares of Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Mizuho lifted their price objective on Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Finally, Zacks Research upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and a consensus price target of $88.80.

Flowserve Trading Down 6.3%

Shares of FLS stock opened at $76.21 on Friday. The business has a 50-day moving average of $80.21 and a 200 day moving average of $67.73. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.03 and a quick ratio of 1.50. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $92.41. The stock has a market capitalization of $9.70 billion, a PE ratio of 29.09, a P/E/G ratio of 1.80 and a beta of 1.27.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.70 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, sell-side analysts anticipate that Flowserve Corporation will post 3.18 earnings per share 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 issued a dividend of $0.22 per share. The ex-dividend date is Friday, March 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. This is an increase from Flowserve’s previous quarterly dividend of $0.21. Flowserve’s dividend payout ratio (DPR) is currently 32.06%.

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.