Flowserve Corporation (NYSE:FLS) Receives $77.20 Consensus Target Price from Brokerages

Shares of Flowserve Corporation (NYSE:FLS) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $77.20.

A number of research firms have recently weighed in on FLS. Wall Street Zen downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Bank of America reissued a “neutral” rating and set a $73.00 price objective (up from $60.00) on shares of Flowserve in a research note on Friday, November 14th. Stifel Nicolaus set a $84.00 price objective on Flowserve in a research report on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Flowserve in a research note on Tuesday, November 4th. Finally, TD Cowen lifted their target price on Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th.

Insider Activity

In related news, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction dated 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. This represents a 61.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lamar L. Duhon sold 1,609 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the sale, the insider directly owned 15,116 shares in the company, valued at $1,050,713.16. This trade represents a 9.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 59,276 shares of company stock valued at $4,196,578. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its position in Flowserve by 135.6% during the 1st quarter. Royal Bank of Canada now owns 349,917 shares of the industrial products company’s stock valued at $17,089,000 after acquiring an additional 201,420 shares in the last quarter. Boston Partners bought a new stake in Flowserve during the second quarter valued at about $223,561,000. Brian Low Financial Group LLC purchased a new position in Flowserve in the third quarter valued at about $1,007,000. Mandatum Life Insurance Co Ltd bought a new position in Flowserve in the second quarter worth about $2,618,000. Finally, Fisher Asset Management LLC raised its holdings in Flowserve by 78.8% in the second quarter. Fisher Asset Management LLC now owns 1,858,621 shares of the industrial products company’s stock worth $97,299,000 after purchasing an additional 819,206 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE:FLS opened at $70.11 on Friday. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.42 and a beta of 1.30. Flowserve has a 1 year low of $37.34 and a 1 year high of $74.63. The stock’s 50 day simple moving average is $68.25 and its two-hundred day simple moving average is $58.47. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.54.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. Flowserve’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, equities analysts anticipate that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, December 26th. Flowserve’s payout ratio is presently 24.42%.

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.