Bank of New York Mellon Corp Acquires 118,254 Shares of Flowserve Corporation $FLS

Bank of New York Mellon Corp raised its holdings in Flowserve Corporation (NYSE:FLS) by 5.1% during the first quarter, Holdings Channel reports. The institutional investor owned 2,448,977 shares of the industrial products company’s stock after buying an additional 118,254 shares during the quarter. Bank of New York Mellon Corp’s holdings in Flowserve were worth $180,024,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. BOKF NA acquired a new position in shares of Flowserve during the third quarter valued at about $28,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Flowserve in the 4th quarter worth about $36,000. Measured Wealth Private Client Group LLC bought a new position in Flowserve in the 3rd quarter valued at about $36,000. IFP Advisors Inc lifted its position in Flowserve by 24.4% in the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 163 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Flowserve by 20.1% during the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 162 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Down 1.3%

Flowserve stock opened at $68.43 on Friday. Flowserve Corporation has a fifty-two week low of $48.71 and a fifty-two week high of $92.41. The stock has a market cap of $8.75 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. The firm’s 50-day simple moving average is $72.98 and its 200 day simple moving average is $76.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22.

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

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.88 annualized dividend and a dividend yield of 1.3%. Flowserve’s dividend payout ratio is currently 32.59%.

Insider Activity

In other Flowserve news, Director Brian D. Savoy purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at $67,340. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FLS has been the subject of a number of recent research reports. 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 report on Wednesday, June 24th. Wall Street Zen lowered Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings cut Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Citigroup reiterated a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $92.00 price target on Flowserve in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $86.70.

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.