Gamco Investors INC. ET AL Sells 191,318 Shares of Flowserve Corporation $FLS

Key Points

• Gamco Investors reduced its Flowserve stake by 15.2% in Q1, selling 191,318 shares and leaving it with 1,066,118 shares valued at about $78.4 million.
• Flowserve continues to draw strong institutional interest, with several funds raising or initiating positions and institutional investors now owning 93.93% of the stock.
• Analyst sentiment remains mixed but generally positive: the stock has a Moderate Buy consensus rating with a $86.70 target, while Flowserve also recently beat EPS estimates and pays a quarterly dividend yielding about 1.2%.

Gamco Investors INC. ET AL lowered its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,066,118 shares of the industrial products company's stock after selling 191,318 shares during the quarter. Flowserve accounts for about 0.8% of Gamco Investors INC. ET AL's portfolio, making the stock its 20th biggest position. Gamco Investors INC. ET AL owned about 0.83% of Flowserve worth $78,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Public Employees Retirement System of Ohio raised its holdings in Flowserve by 4.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 41,559 shares of the industrial products company's stock worth $3,055,000 after buying an additional 1,716 shares during the period. Sei Investments Co. lifted its stake in Flowserve by 13.5% in the first quarter. Sei Investments Co. now owns 362,733 shares of the industrial products company's stock valued at $26,665,000 after buying an additional 43,164 shares in the last quarter. Lido Advisors LLC acquired a new position in shares of Flowserve in the first quarter valued at approximately $254,000. Aureus Asset Management LLC acquired a new position in shares of Flowserve in the first quarter valued at approximately $26,345,000. Finally, First Trust Advisors LP increased its position in shares of Flowserve by 32.2% during the first quarter. First Trust Advisors LP now owns 511,054 shares of the industrial products company's stock worth $37,567,000 after acquiring an additional 124,599 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Brian D. Savoy purchased 1,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at $67,340. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $83.00 price objective on shares of Flowserve in a report on Thursday, April 30th. Citigroup reiterated a "buy" rating on shares of Flowserve in a report on Thursday, April 30th. Wall Street Zen downgraded Flowserve from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. TD Cowen lowered Flowserve from a "buy" rating to a "hold" rating and cut their price target for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada decreased their price objective on Flowserve from $98.00 to $91.00 and set an "outperform" rating for the company in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.70.

Flowserve Trading Up 0.9%

Shares of NYSE:FLS opened at $72.31 on Friday. The company's 50-day moving average price is $73.12 and its two-hundred day moving average price is $76.86. Flowserve Corporation has a one year low of $48.71 and a one year high of $92.41. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63. The stock 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.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.07 billion during 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%.Flowserve's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, equities analysts forecast that Flowserve Corporation will post 4.04 EPS for the current fiscal year.

Flowserve Dividend Announcement

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

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.

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.