Flowserve Corporation (NYSE: FLS) stock fell -2.30% on Wednesday to $33.61 against a previous-day closing price of $34.40. With 0.57 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $34.24 whereas the lowest price it dropped to was $33.54. The 52-week range on FLS shows that it touched its highest point at $38.86 and its lowest point at $23.89 during that stretch. It currently has a 1-year price target of $39.90. With its current market cap of 4.43 billion, FLS has annualized dividend of $0.80 while the current yield stands at 2.38%. Beta for the stock currently stands at 1.62.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FLS was down-trending over the past week, with a drop of -3.22%, but this was up by 3.00% over a month. Three-month performance dropped to -4.87% while six-month performance rose 7.28%. The stock gained 10.31% in the past year, while it has gained 9.55% so far this year. A look at the trailing 12-month EPS for FLS yields 1.76 with Next year EPS estimates of 2.24. For the next quarter, that number is 0.40. This implies an EPS growth rate of 49.30% for this year and 23.79% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.90%.
Float and Shares Shorts:
At present, 130.93 million FLS shares are outstanding with a float of 130.24 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.28 million, which was 2.50% higher than short shares on Mar 30, 2023. In addition to Mr. Robert Scott Rowe as the firm’s Pres, CEO & Director, Ms. Amy B. Schwetz serves as its Sr. VP & CFO.
Institutional Ownership:
Through their ownership of 107.53% of FLS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 71.30% of FLS, in contrast to 31.01% held by mutual funds. Shares owned by individuals account for 2.59%. As the largest shareholder in FLS with 9.99% of the stake, The Vanguard Group, Inc. holds 13,105,816 shares worth 13,105,816. A second-largest stockholder of FLS, First Eagle Investment Management, holds 11,019,917 shares, controlling over 8.40% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in FLS, holding 10,387,835 shares or 7.92% stake. With a 6.02% stake in FLS, the First Eagle Global Fund is the largest stakeholder. A total of 7,892,216 shares are owned by the mutual fund manager. The Caisse de dépôt et placement du Q, which owns about 3.44% of FLS stock, is the second-largest Mutual Fund holder. It holds 4,509,423 shares valued at 150.57 million. Nordea 1 – Global Climate & Envir holds 3.42% of the stake in FLS, owning 4,484,533 shares worth 149.74 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, FLS reported revenue of $882.22M and operating income of $55.22M. The EBITDA in the recently reported quarter was $92.01M and diluted EPS was $0.34.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FLS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FLS analysts setting a high price target of $45.00 and a low target of $34.00, the average target price over the next 12 months is $39.90. Based on these targets, FLS could surge 33.89% to reach the target high and rise by 1.16% to reach the target low. Reaching the average price target will result in a growth of 18.71% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded FLS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 61 while that of sell transactions has risen to 60 over the past year. The total number of shares bought during that period was 400,367 while 149,556 shares were sold.
