Flowserve (NYSE:FLS) Sets New 12-Month High – Should You Buy?

Shares of Flowserve Corporation (NYSE:FLS) hit a new 52-week high on Tuesday . The company traded as high as $72.09 and last traded at $71.8560, with a volume of 3719942 shares traded. The stock had previously closed at $68.25.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Citigroup lifted their price objective on Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada lifted their price objective on Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Flowserve Stock Up 5.3%

The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $9.13 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. The company has a 50-day moving average of $54.93 and a two-hundred day moving average of $52.05.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The company 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 posted $0.62 earnings per share. The firm’s 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, research analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

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

Insider Transactions at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the transaction, the insider owned 37,196 shares in the company, valued at approximately $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLS. Boston Partners purchased a new position in Flowserve during the second quarter valued at $223,561,000. Nuveen LLC purchased a new position in Flowserve during the first quarter valued at $111,598,000. Massachusetts Financial Services Co. MA raised its stake in Flowserve by 104.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock valued at $230,281,000 after buying an additional 2,213,406 shares during the last quarter. Norges Bank purchased a new position in Flowserve during the second quarter valued at $88,247,000. Finally, Third Point LLC purchased a new position in Flowserve during the second quarter valued at $62,558,000. Hedge funds and other institutional investors 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.