Fifth Third Bancorp Sells 6,345 Shares of Flowserve Corporation $FLS

Fifth Third Bancorp trimmed its stake in shares of Flowserve Corporation (NYSE:FLS) by 80.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,525 shares of the industrial products company’s stock after selling 6,345 shares during the period. Fifth Third Bancorp’s holdings in Flowserve were worth $81,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FLS. JPMorgan Chase & Co. increased its holdings in shares of Flowserve by 625.5% in the third quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock worth $122,978,000 after purchasing an additional 1,995,221 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Flowserve by 3.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 42,287 shares of the industrial products company’s stock worth $2,247,000 after acquiring an additional 1,297 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Flowserve by 26.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 17,756 shares of the industrial products company’s stock valued at $944,000 after acquiring an additional 3,734 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Flowserve by 9.7% in the third quarter. HighTower Advisors LLC now owns 34,012 shares of the industrial products company’s stock valued at $1,807,000 after purchasing an additional 3,003 shares in the last quarter. Finally, BTC Capital Management Inc. increased its position in Flowserve by 9.5% in the third quarter. BTC Capital Management Inc. now owns 7,752 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FLS. Robert W. Baird set a $98.00 price objective on shares of Flowserve in a research note on Monday, February 9th. Royal Bank Of Canada boosted their target price on Flowserve from $83.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. UBS Group raised their price target on Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Bank of America reiterated a “neutral” rating and set a $73.00 price objective (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Finally, Jefferies Financial Group upped their price target on shares of Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.80.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $88.21 on Tuesday. The firm has a 50 day moving average of $77.51 and a 200 day moving average of $65.86. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $91.31. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 1.96 and a beta of 1.29.

Flowserve (NYSE:FLS) last announced its earnings results on Thursday, February 5th. The industrial products company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.26 billion. Flowserve had a return on equity of 21.19% and a net margin of 7.32%.The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, sell-side analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a $0.22 dividend. The ex-dividend date is Friday, March 27th. This is a positive change from Flowserve’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.0%. Flowserve’s dividend payout ratio (DPR) is 32.06%.

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.