Flowserve (NYSE:FLS) Hits New 52-Week High – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FLS shares. UBS Group upped their target price on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group lifted their price objective on Flowserve from $71.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. TD Cowen upped their price objective on Flowserve from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Jefferies Financial Group boosted their price target on Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Cowen reiterated a “buy” rating on shares of Flowserve in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.90.

Flowserve Stock Up 1.0%

The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.31 and a beta of 1.29. The firm has a 50-day moving average price of $70.38 and a two-hundred day moving average price of $60.01. 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 announced its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, topping 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, sell-side analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a $0.21 dividend. The ex-dividend date was Friday, December 26th. This represents a $0.84 dividend on an annualized basis and a yield of 1.1%. Flowserve’s dividend payout ratio (DPR) is currently 24.42%.

Insider Buying and Selling

In other news, insider Susan Claire Hudson sold 10,667 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy B. Schwetz sold 47,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 52,628 shares of the company’s stock, valued at $3,737,640.56. This trade represents a 47.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 59,276 shares of company stock worth $4,196,578. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Flowserve

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Flowserve by 3.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company’s stock worth $222,000 after buying an additional 157 shares during the period. Parallel Advisors LLC boosted its holdings in Flowserve by 20.1% in the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 162 shares during the period. IFP Advisors Inc grew its position in shares of Flowserve by 24.4% during the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 163 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Flowserve by 0.5% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 44,128 shares of the industrial products company’s stock worth $2,345,000 after purchasing an additional 200 shares during the period. Finally, KLP Kapitalforvaltning AS raised its position in shares of Flowserve by 0.7% in the third quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock valued at $1,456,000 after buying an additional 200 shares in 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.