SCHEDULE 13G: BlackRock Portfolio Management Discloses 5% Stake in Flowserve Corporation
Beneficial Ownership Filing
BlackRock Portfolio Management LLC has filed a Schedule 13G, revealing a 5.0% beneficial ownership stake in Flowserve Corporation's common stock.
Summary
- BlackRock Portfolio Management LLC, a business unit of BlackRock, Inc., reported beneficial ownership of 6,576,661 shares of Flowserve Corporation's common stock.
- This ownership represents 5.0% of Flowserve Corporation's outstanding common stock.
- BlackRock Portfolio Management LLC holds sole voting power over 5,414,187 shares and sole dispositive power over 6,576,661 shares.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Flowserve Corporation.
- BlackRock Fund Managers Ltd, another entity within the BlackRock group, also individually beneficially owns 5% or greater of Flowserve Corporation's outstanding shares.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate positive or negative sentiment regarding the issuer's performance or outlook.
Future Outlook
NA
Management Comments
- "To the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Spencer Fleming, Managing Director, BlackRock Portfolio Management LLC)
Industry Context
This filing is a standard disclosure of an institutional investor's passive ownership stake and does not provide broader industry context or trends for Flowserve Corporation's sector.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact for SEC filings (BlackRock Portfolio Management LLC) | Previous appointees under Power of Attorney dated January 28, 2025 | Eric Andruczyk, Julie Ashworth, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz, Joseph Virgilio | 07/01/2025 | Revocation of previous Power of Attorney and appointment of new attorneys-in-fact for compliance with ownership or control-person reporting requirements. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock Portfolio Management LLC updated its Power of Attorney, revoking a prior one dated January 28, 2025, and appointing new individuals as attorneys-in-fact for executing and filing various SEC and non-U.S. regulatory documents. | 07/01/2025 | Streamlines the process for BlackRock Portfolio Management LLC and its affiliates to comply with ownership and control-person reporting requirements by designating specific individuals with the authority to execute necessary documents. |
Stakeholder Impact
- Shareholders of Flowserve Corporation are informed of a significant institutional ownership stake by BlackRock Portfolio Management LLC, indicating institutional confidence or a passive investment strategy.
Key Dates
| Date | Description |
|---|---|
| 01/28/2025 | Previous Power of Attorney revoked by BlackRock Portfolio Management LLC. |
| 06/30/2025 | Date of event which required the filing of this statement (ownership threshold crossed). |
| 07/01/2025 | Effective date of the new Power of Attorney for BlackRock Portfolio Management LLC. |
| 07/15/2025 | Date the Schedule 13G was signed and filed. |
Keywords
Flowserve Corporation, BlackRock Portfolio Management LLC, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Passive Investment, SEC Filing
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