Citigroup Inc. Sells 33,463 Shares of Flowserve Corporation $FLS

Citigroup Inc. cut its stake in Flowserve Corporation (NYSE:FLS) by 32.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,136 shares of the industrial products company’s stock after selling 33,463 shares during the quarter. Citigroup Inc.’s holdings in Flowserve were worth $3,780,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. acquired a new position in Flowserve during the second quarter valued at approximately $26,000. Hantz Financial Services Inc. boosted its position in shares of Flowserve by 149.8% during the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 418 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Flowserve during the third quarter worth $40,000. Toth Financial Advisory Corp bought a new stake in shares of Flowserve in the 3rd quarter valued at $53,000. Finally, CENTRAL TRUST Co acquired a new stake in Flowserve during the 3rd quarter worth $61,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLS has been the subject of several recent analyst reports. Bank of America restated a “neutral” rating and issued a $73.00 price target (up from $60.00) on shares of Flowserve in a report on Friday, November 14th. TD Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Thursday, February 19th. Weiss Ratings cut Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Flowserve in a research note on Monday, February 9th. Finally, Zacks Research upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday. One equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.80.

Flowserve Price Performance

Shares of FLS opened at $82.92 on Thursday. The stock has a market capitalization of $10.55 billion, a P/E ratio of 31.65, a P/E/G ratio of 1.85 and a beta of 1.27. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $92.41. The company has a 50 day moving average of $79.91 and a 200-day moving average of $67.47. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.68.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Thursday, February 5th. The industrial products company reported $1.11 EPS 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid 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 dividend yield of 1.1%. This is a positive change 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.