Flowserve (NYSE:FLS) Hits New 12-Month High – Here’s Why

Flowserve Corporation (NYSE:FLS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $77.57 and last traded at $76.1140, with a volume of 422731 shares changing hands. The stock had previously closed at $77.17.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup boosted their target price on Flowserve from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. TD Cowen boosted their price objective on shares of Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Mizuho increased their price objective on shares of Flowserve from $60.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Stifel Nicolaus set a $84.00 target price on shares of Flowserve in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average price target of $79.60.

Flowserve Trading Down 1.7%

The stock has a market capitalization of $9.65 billion, a PE ratio of 22.06, a PEG ratio of 1.38 and a beta of 1.29. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $71.04 and its 200-day moving average price is $60.81.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. On average, sell-side analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

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

Insider Transactions at Flowserve

In related news, insider Lamar L. Duhon sold 1,609 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total value of $111,841.59. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy B. Schwetz sold 47,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the completion of the sale, the chief financial officer owned 52,628 shares in the company, valued at $3,737,640.56. This represents a 47.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,276 shares of company stock valued at $4,196,578 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLS. Goldman Sachs Group Inc. lifted its stake in shares of Flowserve by 48.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock valued at $23,047,000 after purchasing an additional 153,553 shares during the last quarter. Parallel Advisors LLC raised its holdings in Flowserve by 74.5% during the 2nd quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock valued at $42,000 after buying an additional 344 shares during the period. Sivia Capital Partners LLC bought a new stake in Flowserve in the second quarter worth $313,000. UMB Bank n.a. lifted its position in Flowserve by 176.0% in the second quarter. UMB Bank n.a. now owns 2,084 shares of the industrial products company’s stock worth $109,000 after buying an additional 1,329 shares during the last quarter. Finally, BTC Capital Management Inc. boosted its stake in Flowserve by 6.1% during the second quarter. BTC Capital Management Inc. now owns 7,080 shares of the industrial products company’s stock worth $369,000 after buying an additional 408 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

About Flowserve

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.