Massachusetts Financial Services Co. MA Has $230.28 Million Stock Holdings in Flowserve Corporation $FLS

Massachusetts Financial Services Co. MA grew its stake in shares of Flowserve Corporation (NYSE:FLS) by 104.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,333,481 shares of the industrial products company’s stock after purchasing an additional 2,213,406 shares during the quarter. Massachusetts Financial Services Co. MA owned about 3.31% of Flowserve worth $230,281,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FLS. Boston Partners bought a new position in shares of Flowserve in the second quarter valued at $223,561,000. Norges Bank bought a new position in shares of Flowserve in the 2nd quarter valued at about $88,247,000. Third Point LLC acquired a new position in shares of Flowserve during the 2nd quarter worth about $62,558,000. Merewether Investment Management LP bought a new stake in shares of Flowserve in the 2nd quarter valued at about $46,555,000. Finally, Fisher Asset Management LLC lifted its stake in Flowserve by 78.8% in the 2nd quarter. Fisher Asset Management LLC now owns 1,858,621 shares of the industrial products company’s stock valued at $97,299,000 after purchasing an additional 819,206 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Up 0.8%

Shares of FLS opened at $77.22 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $77.54. The firm’s 50 day moving average is $71.04 and its 200-day moving average is $60.81. The stock has a market capitalization of $9.82 billion, a PE ratio of 22.45, a P/E/G ratio of 1.38 and a beta of 1.29.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Equities research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a $0.21 dividend. The ex-dividend date was Friday, December 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.1%. Flowserve’s dividend payout ratio (DPR) is presently 24.42%.

Insider Activity at Flowserve

In other news, CFO Amy B. Schwetz sold 47,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total value of $3,337,940.00. Following the completion of the transaction, the chief financial officer directly owned 52,628 shares in the company, valued at approximately $3,737,640.56. The trade was a 47.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the sale, the insider directly owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,276 shares of company stock valued at $4,196,578 over the last quarter. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America reissued a “neutral” rating and set a $73.00 price target (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Stifel Nicolaus set a $84.00 price target on Flowserve in a research note on Thursday, October 30th. Mizuho raised their price target on Flowserve from $60.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, Wall Street Zen cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.60.

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.