Flowserve Corporation $FLS Shares Sold by Geode Capital Management LLC

Key Points

• Geode Capital Management trimmed its Flowserve stake by 1.2% in the fourth quarter, though it still held 2.33 million shares valued at about $161.7 million. Institutional investors remain heavily invested overall, owning 93.93% of the company.
• Flowserve reported stronger-than-expected earnings for the latest quarter, posting $0.85 EPS versus the $0.82 estimate, but revenue came in below consensus at $1.07 billion and was down 6.7% year over year.
• The company announced a quarterly dividend of $0.22 per share, payable July 10, and analysts currently rate the stock a moderate buy with an average price target of $87.70.

Geode Capital Management LLC decreased its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,329,468 shares of the industrial products company's stock after selling 27,763 shares during the period. Geode Capital Management LLC owned approximately 1.83% of Flowserve worth $161,652,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Smithfield Trust Co boosted its stake in shares of Flowserve by 27.4% during the fourth quarter. Smithfield Trust Co now owns 1,019 shares of the industrial products company's stock worth $71,000 after buying an additional 219 shares during the period. New Age Alpha Advisors LLC boosted its stake in shares of Flowserve by 701.1% during the fourth quarter. New Age Alpha Advisors LLC now owns 34,944 shares of the industrial products company's stock worth $2,424,000 after buying an additional 30,582 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Flowserve by 205.4% during the fourth quarter. Hantz Financial Services Inc. now owns 3,836 shares of the industrial products company's stock worth $266,000 after buying an additional 2,580 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Flowserve during the fourth quarter worth about $11,123,000. Finally, William Blair Investment Management LLC boosted its stake in shares of Flowserve by 142.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company's stock worth $72,720,000 after buying an additional 615,769 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Insider Activity

In related news, Director Brian D. Savoy purchased 1,000 shares of Flowserve stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $67,340. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.71% of the company's stock.

Flowserve Price Performance

Shares of NYSE:FLS opened at $75.56 on Thursday. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The company has a market cap of $9.66 billion, a P/E ratio of 27.98, a PEG ratio of 1.72 and a beta of 1.22. Flowserve Corporation has a 52 week low of $45.11 and a 52 week high of $92.41. The company has a 50-day moving average price of $75.56 and a 200 day moving average price of $76.01.

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

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given 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 dividend payout ratio (DPR) is presently 32.59%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FLS shares. TD Cowen reiterated a "buy" rating on shares of Flowserve in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. The Goldman Sachs Group restated a "neutral" rating and issued a $83.00 price objective on shares of Flowserve in a research report on Thursday, April 30th. Royal Bank Of Canada reduced their price objective on shares of Flowserve from $98.00 to $91.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Finally, Stifel Nicolaus set a $92.00 price objective on shares of Flowserve in a research report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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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