Flowserve Corporation $FLS Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in shares of Flowserve Corporation (NYSE:FLS) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,329,468 shares of the industrial products company’s stock after selling 27,763 shares during the period. Geode Capital Management LLC’s holdings in Flowserve were worth $161,652,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FLS. JPMorgan Chase & Co. increased its stake in shares of Flowserve by 625.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock worth $122,978,000 after purchasing an additional 1,995,221 shares in the last quarter. UBS Group AG increased its stake in shares of Flowserve by 67.8% during the 3rd quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after purchasing an additional 1,676,284 shares in the last quarter. Merewether Investment Management LP purchased a new position in shares of Flowserve during the 2nd quarter worth approximately $46,555,000. William Blair Investment Management LLC increased its stake in shares of Flowserve by 142.4% during the 4th quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company’s stock worth $72,720,000 after purchasing an additional 615,769 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its stake in shares of Flowserve by 109.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,001,985 shares of the industrial products company’s stock worth $53,245,000 after purchasing an additional 522,685 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Brian D. Savoy acquired 1,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $67.34 per share, with a total value of $67,340.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $67,340. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FLS shares. The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price objective on shares of Flowserve in a research note on Thursday, April 30th. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research note on Friday, May 1st. Robert W. Baird set a $98.00 target price on shares of Flowserve in a research note on Monday, February 9th. Royal Bank Of Canada lowered their target price on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Citigroup reaffirmed a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.70.

Flowserve Stock Down 1.0%

FLS stock opened at $75.56 on Thursday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 27.98, a PEG ratio of 1.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. Flowserve Corporation has a one year low of $45.11 and a one year high of $92.41. The company has a 50 day moving average price of $75.56 and a two-hundred day moving average price of $76.01.

Flowserve (NYSE:FLS) last released its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. Flowserve’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, sell-side analysts expect that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Dividend Announcement

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

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.