Recent changes in investments include Bank of Nova Scotia acquiring $1.1 million in Flowserve during Q4. Nomura Holdings bought $6.4 million, while Nebula Research invested $1.45 million. Cubist Systematic Strategies increased their stake by 717.3%, now holding shares worth $16.3 million after purchasing an additional 346,651 shares. Raleigh Capital Management raised their position by 122.4%, now owning shares worth $45,000. Institutional investors control 93.93% of Flowserve’s stock.
Flowserve Stock Rises 0.9%
On Friday, Flowserve shares (NYSE:FLS) opened at $52.69. The stock had a yearly low of $35.31 and a high of $53.86. Financial metrics include a debt-to-equity ratio of 0.60, a current ratio of 2.00, and a market cap of $6.94 billion.
On July 29th, Flowserve reported earnings of $0.73 per share, outperforming estimates of $0.63. Revenue was $1.16 billion, up 7.1% year-over-year, compared to last year’s $0.52 EPS. Analysts project an EPS of 2.76 for this year.
Flowserve Declares Dividend
The company announced a quarterly dividend of $0.21 per share, payable on October 11, for investors recorded by September 27. This equates to an annual dividend of $0.84 and a yield of 1.59%. The current dividend payout ratio is 47.46%.
Analyst Price Targets Updated
Multiple analysts have updated their price targets for Flowserve: Royal Bank of Canada raised it from $50 to $52, while Stifel Nicolaus increased it from $58 to $60. Robert W. Baird and TD Cowen also raised their targets to $60 and $57, respectively. Currently, there are two hold ratings and seven buy ratings on the stock, with an average target price of $56.88.
Flowserve Overview
Flowserve Corporation designs and manufactures industrial flow management equipment and operates globally across various regions. Its segments include the Flowserve Pump Division and the Flow Control Division.
See Also
- Five stocks we prefer over Flowserve
- Understanding Compound Interest
- 3 Promising Small-Cap Stocks
- Healthcare Stocks: Why Invest?
- MarketBeat Weekly Review
- Using VWAP: A Trading Indicator
- Top Streaming Companies
Receive Daily Flowserve News & Ratings – Enter your email for a summary of news and analysts’ ratings with MarketBeat.com’s FREE daily newsletter.
`