Mandatum Life Insurance Co Ltd Acquires 10,000 Shares of Flowserve Corporation $FLS

Mandatum Life Insurance Co Ltd grew its holdings in Flowserve Corporation (NYSE:FLS) by 20.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 60,000 shares of the industrial products company’s stock after purchasing an additional 10,000 shares during the quarter. Flowserve makes up 1.0% of Mandatum Life Insurance Co Ltd’s investment portfolio, making the stock its 26th largest position. Mandatum Life Insurance Co Ltd’s holdings in Flowserve were worth $4,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in FLS. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 1,995,221 shares in the last quarter. Norges Bank acquired a new stake in shares of Flowserve in the fourth quarter worth $117,964,000. UBS Group AG boosted its holdings in shares of 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 buying an additional 1,676,284 shares during the period. Merewether Investment Management LP bought a new stake in shares of Flowserve during the 2nd quarter worth $46,555,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Flowserve by 36.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,330,723 shares of the industrial products company’s stock worth $161,706,000 after buying an additional 626,100 shares during the period. 93.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Brian D. Savoy acquired 1,000 shares of the firm’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 acquisition, the director directly owned 1,000 shares in the company, valued at $67,340. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.

Flowserve Stock Down 2.7%

Shares of NYSE:FLS opened at $73.41 on Friday. Flowserve Corporation has a 12 month low of $45.11 and a 12 month high of $92.41. The company’s 50-day moving average price is $75.50 and its two-hundred day moving average price is $76.05. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The firm has a market cap of $9.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.70 and a beta of 1.22.

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

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Flowserve’s dividend payout ratio is currently 32.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. TD Cowen reaffirmed a “buy” rating on shares of Flowserve in a report on Friday, May 1st. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a report on Friday, May 1st. Finally, Robert W. Baird set a $98.00 target price on shares of Flowserve in a report on Monday, February 9th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.70.

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.