Clearline Capital LP Sells 347,576 Shares of Flowserve Corporation $FLS

Clearline Capital LP lowered its position in Flowserve Corporation (NYSE:FLS) by 54.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 294,714 shares of the industrial products company’s stock after selling 347,576 shares during the quarter. Flowserve comprises approximately 1.0% of Clearline Capital LP’s portfolio, making the stock its 21st largest holding. Clearline Capital LP owned approximately 0.23% of Flowserve worth $20,447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLS. JPMorgan Chase & Co. grew its position in Flowserve by 625.5% in the third quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock worth $122,978,000 after acquiring an additional 1,995,221 shares in the last quarter. Norges Bank purchased a new position in Flowserve in the fourth quarter worth $117,964,000. UBS Group AG grew its position in Flowserve by 67.8% in the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after acquiring an additional 1,676,284 shares in the last quarter. Merewether Investment Management LP purchased a new position in Flowserve in the second quarter worth $46,555,000. Finally, Amundi grew its position in Flowserve by 414.3% in the fourth quarter. Amundi now owns 1,047,698 shares of the industrial products company’s stock worth $72,689,000 after acquiring an additional 843,995 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Flowserve

In other news, Director Brian D. Savoy acquired 1,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at approximately $67,340. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FLS shares. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research report on Friday, May 1st. Weiss Ratings lowered shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, TD Cowen restated a “buy” rating on shares of Flowserve in a research report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and a consensus price target of $87.70.

Flowserve Stock Performance

NYSE FLS opened at $79.00 on Thursday. The company has a 50-day simple moving average of $76.09 and a two-hundred day simple moving average of $76.63. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. Flowserve Corporation has a 12-month low of $45.11 and a 12-month high of $92.41. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.81 and a beta of 1.22.

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

Flowserve Dividend Announcement

The company 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. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve’s dividend payout ratio is 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.