Flowserve (NYSE:FLS) Reaches New 1-Year High – Time to Buy?

Flowserve Corporation (NYSE:FLS)’s stock price 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. The stock had previously closed at $73.84.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FLS. UBS Group upped their target price on Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Mizuho boosted their price target on Flowserve from $60.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Stifel Nicolaus set a $84.00 price objective on shares of Flowserve in a research note on Thursday, October 30th. The Goldman Sachs Group raised their target price on shares of Flowserve from $71.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Finally, Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and a consensus target price of $78.90.

Flowserve Stock Up 1.0%

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 capitalization of $9.48 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 1.31 and a beta of 1.29. The firm’s fifty day moving average price is $70.38 and its 200-day moving average price is $60.01.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’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. Sell-side analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

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

Insider Transactions at Flowserve

In related news, insider Lamar L. Duhon sold 1,609 shares of the business’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 sale, the insider owned 15,116 shares of the company’s stock, valued at $1,050,713.16. The trade was a 9.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was 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 approximately $461,295.89. This represents a 61.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 59,276 shares of company stock worth $4,196,578. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

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