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.
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