Flowserve (NYSE:FLS) Given New $74.00 Price Target at Mizuho

Flowserve (NYSE:FLS) had its target price hoisted by stock analysts at Mizuho from $60.00 to $74.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s target price would suggest a potential upside of 4.46% from the stock’s current price.

A number of other research analysts have also weighed in on FLS. Cowen reaffirmed a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Citigroup upped their price target on shares of Flowserve from $68.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Bank of America reiterated a “neutral” rating and issued a $73.00 price objective (up previously from $60.00) on shares of Flowserve in a research note on Friday, November 14th. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group boosted their price target on Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. One equities research 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. According to MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $78.60.

Flowserve Trading Up 2.1%

NYSE FLS opened at $70.84 on Monday. The stock has a market capitalization of $9.01 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.26 and a beta of 1.29. Flowserve has a 52-week low of $37.34 and a 52-week high of $74.63. The firm has a 50-day moving average price of $69.29 and a 200 day moving average price of $58.96. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.62.

Flowserve (NYSE:FLS) last announced its quarterly earnings data 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 company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Equities research analysts expect that Flowserve will post 3.18 EPS for the current year.

Insider Activity

In other news, CFO Amy B. Schwetz sold 47,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the completion of the transaction, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at $3,737,640.56. This trade represents a 47.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total value of $111,841.59. Following the transaction, the insider owned 15,116 shares of the company’s stock, valued at $1,050,713.16. This represents a 9.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,276 shares of company stock worth $4,196,578 over the last ninety days. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Flowserve

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Flowserve by 3.9% during the third quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company’s stock valued at $222,000 after buying an additional 157 shares during the period. Parallel Advisors LLC raised 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 acquiring an additional 162 shares during the last quarter. IFP Advisors Inc lifted its stake 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 during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Flowserve by 0.5% during the 3rd 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 boosted its holdings in shares of Flowserve by 0.7% during the third quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock worth $1,456,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

About Flowserve

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.