ProShare Advisors LLC Sells 6,810 Shares of Flowserve Corporation $FLS

ProShare Advisors LLC lessened its position in shares of Flowserve Corporation (NYSE:FLS) by 54.1% in the fourth quarter, HoldingsChannel reports. The fund owned 5,788 shares of the industrial products company’s stock after selling 6,810 shares during the period. ProShare Advisors LLC’s holdings in Flowserve were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in FLS. BOKF NA bought a new stake in shares of Flowserve during the third quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Flowserve during the third quarter worth approximately $36,000. IFP Advisors Inc boosted its holdings in shares of Flowserve by 24.4% during the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 163 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Flowserve by 20.1% during the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 162 shares during the period. Finally, CENTRAL TRUST Co bought a new stake in shares of Flowserve during the third quarter worth approximately $61,000. Institutional investors own 93.93% of the company’s stock.

Insider Activity

In related news, Director Brian D. Savoy purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the subject of a number of research analyst reports. Mizuho boosted their price objective on Flowserve from $74.00 to $91.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Wall Street Zen cut Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Citigroup restated a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Weiss Ratings cut Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Flowserve in a report on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.70.

Flowserve Trading Up 0.3%

Shares of FLS stock opened at $75.41 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73. The stock has a market cap of $9.64 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. The stock has a 50 day simple moving average of $75.43 and a 200 day simple moving average of $75.83. Flowserve Corporation has a 1 year low of $45.11 and a 1 year high of $92.41.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, research analysts predict that Flowserve Corporation will post 4.05 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, June 26th. Flowserve’s payout ratio is 32.59%.

Flowserve Company 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.