Flowserve (NYSE:FLS) Hits New 52-Week High – Here’s What Happened

Flowserve Corporation (NYSE:FLS) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $91.49 and last traded at $90.2060, with a volume of 101806 shares trading hands. The stock had previously closed at $90.52.

Analyst Upgrades and Downgrades

FLS has been the subject of several recent research reports. UBS Group boosted their price target on Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Stifel Nicolaus raised their price target on shares of Flowserve from $87.00 to $97.00 and gave the company a “buy” rating in a report on Monday, February 9th. Robert W. Baird set a $98.00 target price on shares of Flowserve in a research report on Monday, February 9th. Weiss Ratings downgraded shares of Flowserve from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, February 18th. Finally, Bank of America reiterated a “neutral” rating and set a $73.00 price target (up from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.80.

Flowserve Stock Up 0.6%

The company has a current ratio of 2.03, a quick ratio of 1.50 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $11.59 billion, a P/E ratio of 34.78, a PEG ratio of 1.95 and a beta of 1.29. The firm’s 50 day moving average price is $77.91 and its two-hundred day moving average price is $66.13.

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

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.0%. This is a boost from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, March 27th. Flowserve’s payout ratio is currently 32.06%.

Institutional Trading of Flowserve

A number of large investors have recently added to or reduced their stakes in the company. MidFirst Bank bought a new stake in shares of Flowserve in the 4th quarter valued at about $382,000. Pacer Advisors Inc. boosted its position in Flowserve by 43.1% during the fourth quarter. Pacer Advisors Inc. now owns 33,923 shares of the industrial products company’s stock worth $2,354,000 after purchasing an additional 10,221 shares during the period. Monetary Solutions Ltd acquired a new position in shares of Flowserve in the fourth quarter valued at $891,000. T. Rowe Price Investment Management Inc. raised its position in shares of Flowserve by 102.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,731,665 shares of the industrial products company’s stock valued at $120,143,000 after purchasing an additional 877,327 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Flowserve by 33.1% during the 4th quarter. Invesco Ltd. now owns 329,749 shares of the industrial products company’s stock worth $22,878,000 after buying an additional 81,996 shares during the last quarter. Institutional investors and hedge funds 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.