Intech Investment Management LLC Sells 77,512 Shares of Flowserve Corporation $FLS

Key Points

• Intech Investment Management cut its Flowserve stake by 56.7% in the fourth quarter, selling 77,512 shares and leaving it with 59,189 shares valued at about $4.1 million.
• Institutional ownership remains high, with several large investors increasing positions, including JPMorgan Chase & Co. and UBS Group AG, while 93.93% of Flowserve shares are held by institutions.
• Flowserve reported better-than-expected EPS of $0.85 in its latest quarter, though revenue came in below estimates and fell 6.7% year over year; the company also announced a quarterly dividend of $0.22 per share.

Intech Investment Management LLC cut its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 56.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,189 shares of the industrial products company's stock after selling 77,512 shares during the period. Intech Investment Management LLC's holdings in Flowserve were worth $4,107,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FLS. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 1,995,221 shares during the last quarter. UBS Group AG grew its position in Flowserve by 67.8% during the 3rd 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 during the last quarter. Merewether Investment Management LP bought a new stake in Flowserve during the 2nd quarter worth approximately $46,555,000. William Blair Investment Management LLC grew its position in Flowserve by 142.4% during the 4th quarter. William Blair Investment Management LLC now owns 1,048,137 shares of the industrial products company's stock worth $72,720,000 after acquiring an additional 615,769 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in Flowserve by 109.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,001,985 shares of the industrial products company's stock worth $53,245,000 after acquiring an additional 522,685 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

FLS has been the topic of a number of recent research reports. Stifel Nicolaus set a $92.00 price objective on Flowserve in a research report on Friday, May 1st. Jefferies Financial Group reiterated a "buy" rating and issued a $90.00 price objective (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Wall Street Zen lowered Flowserve from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. TD Cowen reiterated a "buy" rating on shares of Flowserve in a research report on Friday, May 1st. Finally, Zacks Research lowered Flowserve from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 15th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Flowserve has an average rating of "Moderate Buy" and a consensus target price of $87.70.

Flowserve Stock Performance

Shares of Flowserve stock opened at $75.01 on Tuesday. The company has a market capitalization of $9.59 billion, a PE ratio of 27.78, a PEG ratio of 1.70 and a beta of 1.24. Flowserve Corporation has a 12 month low of $45.11 and a 12 month high of $92.41. 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 stock's fifty day simple moving average is $75.44 and its 200 day simple moving average is $75.91.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The firm's revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, research analysts predict that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve's dividend payout ratio (DPR) is presently 32.59%.

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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