Flowserve (NYSE:FLS) Price Target Raised to $87.00

by · The Markets Daily

Flowserve (NYSE:FLSFree Report) had its target price increased by Stifel Nicolaus from $84.00 to $87.00 in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently issued reports on the company. Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Bank of America reiterated a “neutral” rating and set a $73.00 target price (up previously from $60.00) on shares of Flowserve in a research report on Friday, November 14th. Jefferies Financial Group boosted their price target on shares of Flowserve from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. TD Cowen reaffirmed a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Finally, Citigroup lifted their target price on shares of Flowserve from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Flowserve has an average rating of “Moderate Buy” and a consensus price target of $79.90.

View Our Latest Stock Analysis on FLS

Flowserve Stock Down 1.0%

Shares of FLS stock opened at $77.84 on Friday. Flowserve has a twelve month low of $37.34 and a twelve month high of $78.80. The stock has a market cap of $9.89 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.39 and a beta of 1.29. The stock has a 50 day moving average of $71.74 and a 200 day moving average of $61.48. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62.

Flowserve (NYSE:FLSGet Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the company earned $0.62 EPS. The business’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, sell-side analysts expect that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given 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 yield of 1.1%. Flowserve’s payout ratio is presently 24.42%.

Insider Buying and Selling at Flowserve

In other news, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total value of $111,841.59. Following the completion of the sale, the insider directly owned 15,116 shares in the company, valued at $1,050,713.16. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Susan Claire Hudson sold 10,667 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. This represents a 61.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 59,276 shares of company stock worth $4,196,578. Insiders own 0.72% of the company’s stock.

Institutional Trading of Flowserve

Several large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Flowserve by 104.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,333,481 shares of the industrial products company’s stock worth $230,281,000 after acquiring an additional 2,213,406 shares during the period. Boston Partners acquired a new stake in Flowserve during the second quarter worth about $223,561,000. UBS Group AG raised its stake in Flowserve by 67.8% during the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after purchasing an additional 1,676,284 shares during the period. AQR Capital Management LLC boosted its holdings in Flowserve by 9.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,230,118 shares of the industrial products company’s stock valued at $171,648,000 after purchasing an additional 290,226 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in Flowserve by 5.0% in the 3rd quarter. Earnest Partners LLC now owns 2,885,879 shares of the industrial products company’s stock valued at $153,356,000 after purchasing an additional 136,867 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

About Flowserve

(Get Free Report)

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.

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