Fifth Third Bancorp Has $5.21 Million Holdings in Flowserve Corporation $FLS

Fifth Third Bancorp raised its position in shares of Flowserve Corporation (NYSE:FLS) by 4,483.6% in the first quarter, Holdings Channel reports. The fund owned 70,816 shares of the industrial products company’s stock after buying an additional 69,271 shares during the quarter. Fifth Third Bancorp’s holdings in Flowserve were worth $5,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Flowserve by 1,300.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock worth $14,967,000 after purchasing an additional 189,165 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Flowserve by 19.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 128,436 shares of the industrial products company’s stock worth $8,911,000 after purchasing an additional 20,725 shares in the last quarter. Bullseye Asset Management LLC boosted its holdings in shares of Flowserve by 54.5% in the 4th quarter. Bullseye Asset Management LLC now owns 85,000 shares of the industrial products company’s stock valued at $5,897,000 after buying an additional 30,000 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Flowserve by 142.4% in the fourth quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company’s stock valued at $72,720,000 after buying an additional 615,769 shares in the last quarter. Finally, Horizon Investments LLC bought a new stake in Flowserve during the fourth quarter worth $4,826,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Performance

Shares of FLS opened at $68.43 on Friday. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.56 and a beta of 1.23. Flowserve Corporation has a 12 month low of $48.71 and a 12 month high of $92.41. 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 50 day moving average of $72.98 and a 200 day moving average of $76.89.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.07 billion for 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 quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, sell-side analysts forecast that Flowserve Corporation will post 4.05 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 1.3%. Flowserve’s dividend payout ratio is currently 32.59%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FLS. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price target on shares of Flowserve in a research report on Thursday, April 30th. Royal Bank Of Canada reduced their price target on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.70.

Insider Activity

In other Flowserve news, Director Brian D. Savoy purchased 1,000 shares of Flowserve stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at approximately $67,340. This trade 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. Corporate insiders own 0.71% of the company’s stock.

Flowserve 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.