Gabelli Funds LLC Has $78.15 Million Holdings in Flowserve Corporation $FLS

Key Points

• Gabelli Funds LLC trimmed its Flowserve stake by 6.4% in the fourth quarter, ending with 1,126,437 shares valued at about $78.15 million. Despite the reduction, institutional ownership remains high, with funds and hedge funds holding 93.93% of the stock.
• Flowserve posted mixed quarterly results, beating earnings expectations with $0.85 EPS versus the $0.82 estimate, but revenue came in below forecasts at $1.07 billion and fell 6.7% year over year.
• The company remains supported by analysts and shareholders: it announced a $0.22 quarterly dividend, and Wall Street’s consensus rating is Moderate Buy with an average price target of $87.70.

Gabelli Funds LLC lessened its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,126,437 shares of the industrial products company's stock after selling 76,436 shares during the quarter. Gabelli Funds LLC owned about 0.89% of Flowserve worth $78,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. North Dakota State Investment Board acquired a new position in Flowserve during the 4th quarter valued at about $317,000. Northwestern Mutual Wealth Management Co. lifted its position in Flowserve by 1,300.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company's stock valued at $14,967,000 after purchasing an additional 189,165 shares during the period. Thrivent Financial for Lutherans lifted its position in Flowserve by 33.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,027,682 shares of the industrial products company's stock valued at $140,729,000 after purchasing an additional 508,060 shares during the period. Pinnacle Associates Ltd. lifted its position in Flowserve by 26.2% during the 4th quarter. Pinnacle Associates Ltd. now owns 32,265 shares of the industrial products company's stock valued at $2,239,000 after purchasing an additional 6,700 shares during the period. Finally, Freemont Management S.A. lifted its position in Flowserve by 196.5% during the 4th quarter. Freemont Management S.A. now owns 25,200 shares of the industrial products company's stock valued at $1,748,000 after purchasing an additional 16,700 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Brian D. Savoy purchased 1,000 shares of Flowserve stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $67.34 per share, with a total value of $67,340.00. Following the transaction, the director directly owned 1,000 shares in the company, valued at $67,340. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by company insiders.

Flowserve Trading Down 0.0%

NYSE:FLS opened at $65.06 on Monday. Flowserve Corporation has a twelve month low of $45.11 and a twelve month high of $92.41. 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 business has a 50 day moving average price of $76.65 and a two-hundred day moving average price of $75.68. The company has a market cap of $8.32 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.24.

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

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Flowserve's dividend payout ratio is 32.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen restated a "buy" rating on shares of Flowserve in a research report on Friday, May 1st. Stifel Nicolaus set a $92.00 target price on shares of Flowserve 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 research report on Friday. Citigroup restated a "buy" rating on shares of Flowserve in a research report on Thursday, April 30th. Finally, Mizuho upped their target price on shares of Flowserve from $74.00 to $91.00 and gave the company an "outperform" rating in a research report on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Flowserve currently has an average rating of "Moderate Buy" and a consensus target price of $87.70.

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.

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