Flowserve (NYSE:FLS) Price Target Raised to $80.00

Flowserve (NYSE:FLS) had its price objective raised by TD Cowen from $75.00 to $80.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts also recently commented on the stock. Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Stifel Nicolaus set a $84.00 target price on Flowserve in a research report on Thursday, October 30th. Citigroup upped their price target on Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Cowen restated a “buy” rating on shares of Flowserve in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.63.

Flowserve Trading Down 0.5%

NYSE:FLS opened at $69.57 on Tuesday. The stock has a fifty day simple moving average of $55.83 and a 200 day simple moving average of $52.48. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32. Flowserve has a 1-year low of $37.34 and a 1-year high of $72.08. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Flowserve (NYSE:FLS) last posted its quarterly earnings data 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 net margin of 9.66% and a return on equity of 19.41%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior 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. Sell-side analysts forecast that Flowserve will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 26th. Flowserve’s dividend payout ratio is presently 24.42%.

Insider Transactions at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the transaction, the insider owned 37,196 shares in the company, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Susan Claire Hudson sold 10,667 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total transaction of $746,796.67. Following the transaction, the insider directly owned 6,589 shares in the company, valued at approximately $461,295.89. The trade was a 61.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 67,667 shares of company stock valued at $4,616,937 in the last three months. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLS. TD Private Client Wealth LLC bought a new position in shares of Flowserve during the 2nd quarter valued at $25,000. First Horizon Advisors Inc. acquired a new position in Flowserve during the second quarter worth $26,000. Hilltop National Bank bought a new position in Flowserve during the second quarter valued at about $31,000. IFP Advisors Inc raised its holdings in Flowserve by 1,289.6% during the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after buying an additional 619 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Flowserve by 149.8% in the second quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock worth $36,000 after buying an additional 418 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.