Flowserve Corporation (NYSE:FLS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Flowserve Corporation (NYSE:FLS) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $79.60.

FLS has been the topic of several analyst reports. Bank of America reiterated a “neutral” rating and set a $73.00 price target (up previously from $60.00) on shares of Flowserve in a report on Friday, November 14th. Jefferies Financial Group raised their price objective on shares of Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Zacks Research downgraded shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Wall Street Zen lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th.

Insiders Place Their Bets

In other Flowserve 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 sale, the chief financial officer owned 52,628 shares in the company, valued at $3,737,640.56. The trade was a 47.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the completion of the transaction, the insider directly owned 6,589 shares in the company, valued at approximately $461,295.89. This trade represents a 61.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,276 shares of company stock valued at $4,196,578 over the last quarter. 0.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Flowserve

Institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners purchased a new position in Flowserve during the 2nd quarter valued at about $223,561,000. Massachusetts Financial Services Co. MA increased its stake in 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 worth $230,281,000 after purchasing an additional 2,213,406 shares during the period. JPMorgan Chase & Co. lifted its position 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 worth $122,978,000 after purchasing an additional 1,995,221 shares in the last quarter. Norges Bank purchased a new position in shares of Flowserve in the second quarter valued at approximately $88,247,000. Finally, UBS Group AG grew its holdings in shares of Flowserve by 67.8% in 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 purchasing an additional 1,676,284 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 2.2%

Shares of Flowserve stock opened at $77.53 on Thursday. 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’s 50 day simple moving average is $71.32 and its 200-day simple moving average is $61.07. The stock has a market cap of $9.86 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.35 and a beta of 1.29. Flowserve has a 1-year low of $37.34 and a 1-year high of $78.78.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Analysts predict that Flowserve will post 3.18 EPS for the current fiscal 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 given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, December 26th. Flowserve’s dividend 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.