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

by · The Markets Daily

Flowserve Corporation (NYSE:FLS – Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $72.60 and last traded at $72.4360, with a volume of 351080 shares. The stock had previously closed at $70.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FLS shares. Royal Bank Of Canada upped their target price on Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Bank of America reaffirmed a “neutral” rating and issued a $73.00 price target (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. The Goldman Sachs Group increased their target price on shares of Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.33.

Read Our Latest Report on Flowserve

Flowserve Price Performance

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 capitalization of $9.19 billion, a PE ratio of 21.02, a P/E/G ratio of 1.43 and a beta of 1.30. The firm’s fifty day moving average price is $60.89 and its 200 day moving average price is $55.46.

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

Insider Transactions at Flowserve

In related news, CFO Amy B. Schwetz sold 47,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer owned 52,628 shares in the company, valued at approximately $3,737,640.56. This trade represents a 47.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the transaction, the insider owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,276 shares of company stock valued at $4,196,578 in the last 90 days. 0.76% of the stock is currently owned by company insiders.

Institutional Trading of Flowserve

Several institutional investors have recently bought and sold shares of the business. Avantax Advisory Services Inc. lifted its position in shares of Flowserve by 24.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,991 shares of the industrial products company’s stock valued at $293,000 after buying an additional 1,163 shares in the last quarter. Cetera Investment Advisers raised its position in Flowserve by 57.2% during the first quarter. Cetera Investment Advisers now owns 15,854 shares of the industrial products company’s stock worth $774,000 after acquiring an additional 5,769 shares during the period. LPL Financial LLC lifted its holdings in Flowserve by 5.4% during the first quarter. LPL Financial LLC now owns 70,081 shares of the industrial products company’s stock valued at $3,423,000 after purchasing an additional 3,562 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Flowserve by 6.0% in the first quarter. Federated Hermes Inc. now owns 36,008 shares of the industrial products company’s stock valued at $1,759,000 after purchasing an additional 2,051 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Flowserve by 52.1% during the 1st quarter. XTX Topco Ltd now owns 8,464 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 2,901 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Company Profile

(Get Free Report)

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.

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