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

Flowserve Corporation (NYSE:FLS)’s share price reached a new 52-week high on Wednesday . The stock 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 Ratings Changes

A number of research analysts recently weighed in on the stock. Mizuho raised their price target on shares of Flowserve from $74.00 to $91.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Wall Street Zen downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Royal Bank Of Canada lifted their target price on shares of Flowserve from $83.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Bank of America restated 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. Finally, Jefferies Financial Group boosted their price target on shares of Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.80.

Flowserve Trading Down 1.6%

The company’s 50-day moving average price is $78.76 and its 200-day moving average price is $66.47. The firm has a market capitalization of $11.17 billion, a PE ratio of 33.49, a PEG ratio of 2.03 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 2.03.

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

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a $0.22 dividend. This is a positive change from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, March 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.0%. Flowserve’s payout ratio is 33.59%.

Hedge Funds Weigh In On Flowserve

A number of institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. purchased a new stake in Flowserve during the 2nd quarter worth about $26,000. Atlas Capital Advisors Inc. purchased a new position in shares of Flowserve during the 4th quarter worth $36,000. BOKF NA acquired a new stake in shares of Flowserve during the third quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Flowserve in the third quarter valued at $36,000. Finally, Hantz Financial Services Inc. increased its position in Flowserve by 149.8% during the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 418 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.