Flowserve Corporation $FLS Holdings Lowered by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC trimmed its stake in Flowserve by 3.0% in the first quarter, selling 33,526 shares and ending with 1,092,911 shares valued at about $80.34 million.
• Several analysts have recently turned more cautious on FLS, with multiple downgrades and target cuts; the consensus rating remains Moderate Buy with an average price target of $86.70.
• Flowserve reported Q1 EPS of $0.85, beating estimates, though revenue of $1.07 billion fell short of expectations and declined 6.7% year over year.

Gabelli Funds LLC reduced its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,092,911 shares of the industrial products company's stock after selling 33,526 shares during the period. Gabelli Funds LLC owned 0.86% of Flowserve worth $80,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS Group AG raised its holdings 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 purchasing an additional 1,676,284 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Flowserve by 9.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company's stock valued at $171,648,000 after purchasing an additional 290,226 shares during the period. Nuveen LLC increased its position in shares of Flowserve by 6.1% during the 4th quarter. Nuveen LLC now owns 2,777,288 shares of the industrial products company's stock valued at $192,688,000 after purchasing an additional 158,661 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Flowserve by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,745,206 shares of the industrial products company's stock worth $190,468,000 after buying an additional 299,346 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Flowserve by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,448,977 shares of the industrial products company's stock worth $180,024,000 after buying an additional 118,254 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on FLS shares. Wall Street Zen cut Flowserve from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Royal Bank Of Canada dropped 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. 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 cut shares of Flowserve from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $85.00 to $70.00 in a research note on Wednesday, June 24th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Flowserve has an average rating of "Moderate Buy" and an average target price of $86.70.

Flowserve Price Performance

Shares of NYSE:FLS opened at $72.31 on Friday. Flowserve Corporation has a one year low of $48.71 and a one year high of $92.41. The stock has a fifty day moving average of $73.12 and a 200-day moving average of $76.86. The company has a market capitalization of $9.24 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.61 and a beta of 1.23. 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 (NYSE:FLS - Get Free Report) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping 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 company's quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities analysts anticipate that Flowserve Corporation will post 4.04 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Flowserve's dividend payout ratio (DPR) is currently 32.59%.

Insiders Place Their Bets

In related news, Director Brian D. Savoy acquired 1,000 shares of the business's stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the acquisition, the director owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.