Flowserve (NYSE:FLS) Reaches New 52-Week High – What’s Next?

Flowserve Corporation (NYSE:FLS) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $77.57 and last traded at $76.1140, with a volume of 422731 shares. The stock had previously closed at $77.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FLS shares. Jefferies Financial Group increased their price objective on Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. UBS Group increased their price target on shares of Flowserve from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Mizuho raised their price target on shares of Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Cowen restated a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.60.

Flowserve Trading Down 1.7%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10. The firm has a market capitalization of $9.65 billion, a PE ratio of 22.06, a P/E/G ratio of 1.38 and a beta of 1.29. The stock’s 50-day simple moving average is $71.04 and its 200-day simple moving average is $60.81.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 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 firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the company posted $0.62 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, sell-side analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

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

Insider Buying and Selling at Flowserve

In related news, insider Lamar L. Duhon sold 1,609 shares of the stock in a transaction dated 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 directly owned 15,116 shares in the company, valued at $1,050,713.16. This trade represents a 9.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Claire Hudson sold 10,667 shares of Flowserve stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total transaction 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 trade represents a 61.82% 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 valued at $4,196,578. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of Flowserve

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Private Client Wealth LLC bought a new stake in Flowserve in the second quarter worth $25,000. First Horizon Advisors Inc. bought a new position in Flowserve in the 2nd quarter worth about $26,000. BOKF NA purchased a new stake in Flowserve during the 3rd quarter valued at about $28,000. Hilltop National Bank bought a new stake in Flowserve during the 2nd quarter valued at about $31,000. Finally, IFP Advisors Inc raised its holdings in Flowserve by 1,289.6% in the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after buying an additional 619 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.