Stocks of Flowserve Corporation (NYSE:FLS) traded higher last session on Wall Street, up 0.37% to $37.90.
FLS stock price is now 4.30% away from the 50-day moving average and 14.24% away from the 200-day moving average. The market capitalization of the company currently stands at $4.94B.
With the price target enhanced from $33 to $40, BofA Securities Upgraded its rating from Neutral to Buy for Flowserve Corporation (NYSE: FLS).
Insiders disposed of 150,018 shares of company stock worth roughly $5.69 million over the past 1 year. A total of 0.41% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FLS stock. A new stake in Flowserve Corporation shares was purchased by ASSENAGON ASSET MANAGEMENT S.A. during the first quarter worth $31,137,000. ALYESKA INVESTMENT GROUP, L.P. invested $20,891,000 in shares of FLS during the first quarter. In the first quarter, BEACONLIGHT CAPITAL, LLC acquired a new stake in Flowserve Corporation valued at approximately $9,665,000. JACOBSON & SCHMITT ADVISORS, LLC acquired a new stake in FLS for approximately $7,508,000. CONCENTRIC CAPITAL STRATEGIES, LP purchased a new stake in FLS valued at around $5,845,000 in the second quarter. In total, there are 394 active investors with 105.62% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $37.42 for Flowserve Corporation (NYSE: FLS). During the past 12 months, Flowserve Corporation has had a low of $23.89 and a high of $38.88. As of last week, the company has a debt-to-equity ratio of 0.68, a current ratio of 1.90, and a quick ratio of 1.30. According to the stock market information, the enterprise value for the company is $6.01B, which is based on a 21.55 price-to-earnings ratio, a 2.15 price-to-earnings-growth ratio, and a beta of 1.64. The fifty day moving average price for FLS is $36.39 and a two-hundred day moving average price translates $33.24 for the stock.
The latest earnings results from Flowserve Corporation (NYSE: FLS) was released for Mar, 2023. The net profit margin was 6.10% and return on equity was 13.10% for FLS. The company reported revenue of $980.3 million for the quarter, compared to $821.06 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.4 percent.
Moreover, the firm recently paid out its quarterly dividend on 07/07/2023. Investors who held shares on 06/23/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 2.11% percent yield. There was an ex-dividend date of 06/22/2023 for this dividend. In terms of dividend payout ratio, FLS is presently at 45.20%.
Flowserve Corporation(FLS) Company Profile
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, the Middle East, Africa, Asia Pacific, and Europe. 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, 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. The FCD segment provides engineered and industrial valve and automation solutions, including isolation and control valves, actuation, controls, and related equipment, as well as equipment maintenance services for flow control systems, including advanced diagnostics, repair, installation, commissioning, retrofit programs, and field machining capabilities. This segment’s products are used to control, direct, and manage the flow of liquids, gases, and multi-phase fluids. It primarily serves oil and gas, chemical and pharmaceuticals, power generation, and water management markets, as well as general industries, including mining and ore processing, pulp and paper, food and beverage, and other smaller applications. The company distributes its products through direct sales, distributors, and sales representatives. Flowserve Corporation was incorporated in 1912 and is headquartered in Irving, Texas.
