Citigroup Cuts Flowserve (NYSE:FLS) Price Target to $97.00

Flowserve (NYSE:FLS) had its price target lowered by Citigroup from $98.00 to $97.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group restated a “neutral” rating and set a $88.00 target price on shares of Flowserve in a research note on Monday, February 9th. Wall Street Zen downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 15th. Stifel Nicolaus upped their price target on shares of Flowserve from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Mizuho boosted their price objective on shares of Flowserve from $74.00 to $91.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Finally, Zacks Research raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.70.

Flowserve Stock Performance

FLS opened at $78.80 on Monday. The firm has a market cap of $10.07 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.33. Flowserve has a 52-week low of $39.85 and a 52-week high of $92.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 2.03. The business’s fifty day moving average is $80.97 and its 200-day moving average is $72.06.

Flowserve (NYSE:FLS) last released its earnings results on Thursday, February 5th. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.26 billion. Flowserve had a return on equity of 21.19% and a net margin of 7.32%.Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. Sell-side analysts expect that Flowserve will post 3.18 EPS for the current fiscal year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.1%. This is an increase from Flowserve’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, March 27th. Flowserve’s payout ratio is presently 33.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FLS. Massachusetts Financial Services Co. MA grew its holdings in shares of Flowserve by 104.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock valued at $230,281,000 after buying an additional 2,213,406 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Flowserve by 625.5% during the third quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock valued at $122,978,000 after buying an additional 1,995,221 shares during the last quarter. Norges Bank acquired a new position in shares of Flowserve during the fourth quarter valued at about $117,964,000. UBS Group AG grew its holdings in shares of Flowserve by 67.8% during the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock valued at $220,367,000 after buying an additional 1,676,284 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new position in shares of Flowserve during the second quarter valued at about $46,555,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.