Brokerages Set Flowserve Corporation (NYSE:FLS) Price Target at $79.60

Shares of Flowserve Corporation (NYSE:FLS) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $79.90.

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of Flowserve from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Bank of America reissued a “neutral” rating and issued a $73.00 target price (up from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $83.00 price objective on shares of Flowserve in a report on Thursday, January 15th. Finally, TD Cowen restated a “buy” rating on shares of Flowserve in a research note on Tuesday, November 4th.

Insider Transactions at Flowserve

In other news, CFO Amy B. Schwetz sold 47,000 shares of Flowserve stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total value of $3,337,940.00. Following the completion of the transaction, the chief financial officer directly owned 52,628 shares in the company, valued at approximately $3,737,640.56. The trade was a 47.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lamar L. Duhon sold 1,609 shares of the company’s 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 sale, the insider owned 15,116 shares in the company, valued at approximately $1,050,713.16. This represents a 9.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 59,276 shares of company stock valued at $4,196,578 over the last three months. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. TD Private Client Wealth LLC bought a new stake in Flowserve during the second quarter valued at approximately $25,000. First Horizon Advisors Inc. bought a new stake in Flowserve during the second quarter worth about $26,000. BOKF NA bought a new stake in Flowserve during the third quarter worth about $28,000. Hilltop National Bank purchased a new position in shares of Flowserve in the 2nd quarter worth about $31,000. Finally, IFP Advisors Inc increased its position in shares of Flowserve by 1,289.6% during the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 619 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.0%

Shares of Flowserve stock opened at $77.84 on Thursday. The firm has a market cap of $9.89 billion, a PE ratio of 22.63, a P/E/G ratio of 1.39 and a beta of 1.29. Flowserve has a 1 year low of $37.34 and a 1 year high of $78.80. 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 stock has a fifty day moving average price of $71.74 and a 200-day moving average price of $61.42.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Equities research analysts anticipate that Flowserve will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

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