Flowserve (NYSE:FLS) Reaches New 1-Year High – Here’s What Happened

Shares of Flowserve Corporation (NYSE:FLS) reached a new 52-week high on Tuesday . The company traded as high as $75.00 and last traded at $74.74, with a volume of 106263 shares. The stock had previously closed at $73.84.

Analysts Set New Price Targets

Several research firms have commented on FLS. Royal Bank Of Canada restated an “outperform” rating and issued a $83.00 target price on shares of Flowserve in a research report on Thursday. Mizuho increased their price objective on Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. UBS Group raised their target price on Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Stifel Nicolaus set a $84.00 price target on 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 equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $79.60.

Flowserve Stock Up 2.1%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10. The company has a market cap of $9.75 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.34 and a beta of 1.29. The stock has a 50 day moving average price of $70.73 and a 200 day moving average price of $60.38.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company earned $0.62 earnings per share. Flowserve’s revenue was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Research analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $0.84 annualized dividend and a yield of 1.1%. Flowserve’s dividend payout ratio is currently 24.42%.

Insider Transactions at Flowserve

In other news, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the sale, the insider directly owned 6,589 shares of the company’s stock, valued at $461,295.89. This represents a 61.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy B. Schwetz sold 47,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. The trade was a 47.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 59,276 shares of company stock valued at $4,196,578 in the last three months. 0.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Flowserve

A number of hedge funds have recently made changes to their positions in FLS. Boston Partners purchased a new position in Flowserve during the second quarter valued at approximately $223,561,000. Massachusetts Financial Services Co. MA lifted its position in Flowserve by 104.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock worth $230,281,000 after buying an additional 2,213,406 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Flowserve by 625.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock valued at $122,978,000 after buying an additional 1,995,221 shares during the period. Norges Bank purchased a new position in shares of Flowserve during the 2nd quarter valued at $88,247,000. Finally, UBS Group AG increased its stake in shares of Flowserve by 67.8% in the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after acquiring an additional 1,676,284 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.