Flowserve (NYSE:FLS) Price Target Raised to $74.00

Flowserve (NYSE:FLS) had its price objective upped by Mizuho from $60.00 to $74.00 in a report released on Monday, MarketBeat.com reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

Other analysts have also issued reports about the company. Stifel Nicolaus set a $84.00 price target on Flowserve in a research note on Thursday, October 30th. Wall Street Zen downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. TD Cowen lifted their price objective on Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Cowen reiterated a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Finally, Bank of America reaffirmed a “neutral” rating and set a $73.00 price target (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.60.

Flowserve Price Performance

Shares of NYSE:FLS opened at $71.91 on Monday. Flowserve has a one year low of $37.34 and a one year high of $74.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.10 and a quick ratio of 1.54. The company has a market cap of $9.14 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.30 and a beta of 1.29. The firm has a 50 day simple moving average of $70.14 and a 200 day simple moving average of $59.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.21 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Research analysts predict that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business 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. The ex-dividend date is Friday, December 26th. This represents a $0.84 annualized dividend and a yield of 1.2%. Flowserve’s dividend payout ratio (DPR) is 24.42%.

Insider Buying and Selling

In other Flowserve news, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total value of $3,337,940.00. Following the completion of the sale, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This represents a 47.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total value of $111,841.59. Following the completion of the transaction, the insider owned 15,116 shares of the company’s stock, valued at $1,050,713.16. This trade represents a 9.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 59,276 shares of company stock worth $4,196,578. 0.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLS. Royal Bank of Canada increased its holdings in Flowserve by 135.6% in the 1st quarter. Royal Bank of Canada now owns 349,917 shares of the industrial products company’s stock worth $17,089,000 after acquiring an additional 201,420 shares during the last quarter. Amundi boosted its position in Flowserve by 29.1% during the first quarter. Amundi now owns 163,130 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 36,773 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Flowserve by 259.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,193 shares of the industrial products company’s stock worth $986,000 after purchasing an additional 14,578 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Flowserve by 48.2% in the first quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company’s stock valued at $23,047,000 after purchasing an additional 153,553 shares during the period. Finally, Caxton Associates LLP bought a new stake in shares of Flowserve in the first quarter valued at approximately $550,000. 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.