Gabelli Funds LLC Has $80.34 Million Stake in Flowserve Corporation $FLS

Gabelli Funds LLC trimmed its position in shares of Flowserve Corporation (NYSE:FLS) by 3.0% during the 1st quarter, HoldingsChannel reports. The firm owned 1,092,911 shares of the industrial products company’s stock after selling 33,526 shares during the quarter. Gabelli Funds LLC’s holdings in Flowserve were worth $80,340,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Flowserve in the fourth quarter valued at $117,964,000. UBS Group AG grew its holdings in shares of Flowserve by 67.8% during the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock valued at $220,367,000 after buying an additional 1,676,284 shares in the last quarter. Merewether Investment Management LP acquired a new position in Flowserve during the second quarter valued at $46,555,000. T. Rowe Price Investment Management Inc. raised its position in Flowserve by 102.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,731,665 shares of the industrial products company’s stock valued at $120,143,000 after buying an additional 877,327 shares during the period. Finally, Amundi raised its position in Flowserve by 414.3% during the fourth quarter. Amundi now owns 1,047,698 shares of the industrial products company’s stock valued at $72,689,000 after buying an additional 843,995 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Price Performance

Shares of NYSE:FLS opened at $72.31 on Friday. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 1.61 and a beta of 1.23. Flowserve Corporation has a 1 year low of $48.71 and a 1 year 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 business has a fifty day simple moving average of $73.12 and a 200 day simple moving average of $76.86.

Flowserve (NYSE:FLS) last issued its earnings results 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 return on equity of 21.46% and a net margin of 7.61%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s quarterly 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. As a group, sell-side analysts predict that Flowserve Corporation will post 4.04 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. TD Cowen lowered Flowserve from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $85.00 to $70.00 in a research report on Wednesday, June 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 target price on shares of Flowserve in a report on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Wall Street Zen cut shares of Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Flowserve in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.70.

Insider Activity at Flowserve

In other news, Director Brian D. Savoy purchased 1,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $67.34 per share, with a total value of $67,340.00. Following the purchase, the director owned 1,000 shares in the company, valued at $67,340. This represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Flowserve 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.