Flowserve (NYSE:FLS) Sets New 12-Month High After Analyst Upgrade

Shares of Flowserve Corporation (NYSE:FLS) reached a new 52-week high during trading on Monday after Stifel Nicolaus raised their price target on the stock from $84.00 to $87.00. Stifel Nicolaus currently has a buy rating on the stock. Flowserve traded as high as $78.84 and last traded at $77.78, with a volume of 16262 shares traded. The stock had previously closed at $77.88.

Several other research analysts also recently commented on the stock. Citigroup increased their price objective on shares of Flowserve from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, January 12th. UBS Group boosted their target price on Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Mizuho lifted their price objective on Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Finally, Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and a consensus price target of $79.90.

Insider Transactions at Flowserve

In related news, CFO Amy B. Schwetz sold 47,000 shares of Flowserve stock in a transaction dated 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 sale, the chief financial officer owned 52,628 shares in the company, valued at $3,737,640.56. This trade represents a 47.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the transaction, the insider owned 6,589 shares in the company, valued at $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 three months, insiders have sold 59,276 shares of company stock worth $4,196,578. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings 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 worth $222,000 after buying an additional 157 shares during the period. Parallel Advisors LLC raised its holdings in shares of Flowserve by 20.1% in the third 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 in the last quarter. IFP Advisors Inc raised its holdings in shares of Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 163 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in Flowserve by 0.7% in the third quarter. KLP Kapitalforvaltning AS now owns 27,300 shares of the industrial products company’s stock worth $1,456,000 after acquiring an additional 200 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in 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 acquiring an additional 200 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Down 0.2%

The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. The firm has a market cap of $9.86 billion, a PE ratio of 22.56, a P/E/G ratio of 1.39 and a beta of 1.29. The business’s 50-day simple moving average is $72.22 and its 200 day simple moving average is $61.81.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. As a group, equities research analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

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

Flowserve Company Profile

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.