Bank of New York Mellon Corp Acquires 626,100 Shares of Flowserve Corporation $FLS

Key Points

• Bank of New York Mellon increased its Flowserve stake by 36.7% in the fourth quarter, buying 626,100 additional shares and ending with 2.33 million shares valued at about $161.7 million.
• Institutional interest in Flowserve remains heavy, with several large funds, including JPMorgan Chase and UBS, also boosting positions; overall, 93.93% of the stock is held by institutions.
• Flowserve reported quarterly EPS of $0.85, beating estimates, but revenue came in below expectations at $1.07 billion and fell 6.7% year over year; the company also declared a $0.22 quarterly dividend and provided FY2026 EPS guidance of $4.00 to $4.20.

Bank of New York Mellon Corp increased its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 36.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,330,723 shares of the industrial products company's stock after purchasing an additional 626,100 shares during the period. Bank of New York Mellon Corp owned approximately 1.83% of Flowserve worth $161,706,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FLS. JPMorgan Chase & Co. grew its position 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 buying an additional 1,995,221 shares during the period. Norges Bank bought a new position in Flowserve during the fourth quarter worth $117,964,000. UBS Group AG boosted its stake in Flowserve by 67.8% during 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 acquired a new stake in Flowserve in the second quarter worth $46,555,000. Finally, William Blair Investment Management LLC increased its stake in 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 purchasing an additional 615,769 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Insider Activity at Flowserve

In related news, Director Brian D. Savoy purchased 1,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the purchase, the director directly owned 1,000 shares in the company, valued at approximately $67,340. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is owned by insiders.

Flowserve Trading Down 2.7%

NYSE FLS opened at $73.41 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 business has a fifty day simple moving average of $75.50 and a 200 day simple moving average of $76.05. Flowserve Corporation has a 12 month low of $45.11 and a 12 month high of $92.41. The firm has a market capitalization of $9.38 billion, a P/E ratio of 27.19, a PEG ratio of 1.65 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last posted 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 for 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%. The company's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, analysts predict that Flowserve Corporation will post 4.05 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, June 26th. Flowserve's payout ratio is presently 32.59%.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of research analyst reports. Stifel Nicolaus set a $92.00 price objective on shares of Flowserve in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $83.00 target price on shares of Flowserve in a research report on Thursday, April 30th. TD Cowen reaffirmed a "buy" rating on shares of Flowserve in a research note on Friday, May 1st. Royal Bank Of Canada cut their price target on Flowserve from $98.00 to $91.00 and set an "outperform" rating on the stock in a report on Friday, May 1st. Finally, Robert W. Baird set a $98.00 price objective on Flowserve in a report on Monday, February 9th. 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.com, Flowserve presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.70.

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.

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