Citigroup Inc. Has $3.78 Million Stake in Flowserve Corporation $FLS

Citigroup Inc. reduced its stake in shares of Flowserve Corporation (NYSE:FLS) by 32.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,136 shares of the industrial products company’s stock after selling 33,463 shares during the quarter. Citigroup Inc. owned 0.06% of Flowserve worth $3,780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Flowserve by 0.5% during the 3rd 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 in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Flowserve by 0.7% during 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 in the last quarter. Arizona State Retirement System raised its stake in shares of Flowserve by 0.7% in the third 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 boosted its holdings 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 worth $240,000 after acquiring an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Flowserve by 19.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,663 shares of the industrial products company’s stock worth $88,000 after acquiring an additional 271 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Flowserve from $83.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Robert W. Baird set a $98.00 target price on Flowserve in a report on Monday, February 9th. Zacks Research raised Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday. Citigroup upped their price target on shares of Flowserve from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Jefferies Financial Group increased their price objective on shares of Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus price target of $88.80.

Flowserve Stock Performance

Flowserve stock opened at $82.92 on Thursday. The company has a market cap of $10.55 billion, a PE ratio of 31.65, a PEG ratio of 1.85 and a beta of 1.27. 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 1 year low of $37.34 and a 1 year high of $92.41. The company’s 50-day moving average is $79.91 and its two-hundred day moving average is $67.47.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Thursday, February 5th. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.17. Flowserve had a net margin of 7.32% and a return on equity of 21.19%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. Flowserve’s revenue for the quarter was up 3.5% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Equities analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a $0.22 dividend. This is an increase from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, March 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. 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.