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FLS $45.73

FLS target price
45.73
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42
Flowserve Corporation
Type
Public
Traded as NYSE: FLS
S&P 500 Component
Industry Diversified machinery
Founded 1790
Headquarters Irving, Texas, USA
Key people
Rowe, R. Scott, President and CEO (from April 1, 2017)
Thomas L. Pajonas, COO
Carey A. O'Connor, Senior Vice President, Secretary and General Counsel
Products Actuators
Ball valves
Butterfly valves
Control valves
Plug valves
end face mechanical seals
Pumps
Services Power industry
Oil industry
Gas industry
Chemical industry
Revenue
  • Increase US$ 4.88 billion (2015)
  • Increase US$ 4,751.339 million (2012)
Operating income
  • Increase US$ 760.283 million (2013)
  • Increase US$ 675.778 million (2012)
Net income
  • Increase US$ 485.53 million (2013)
  • Increase US$ 448.339 million (2012)
Total assets
  • Increase US$ 7.8 billion (2015)
  • Increase US$ 4,810.958 million (2012)
Total equity
  • Decrease US$ 1,877.121 million (2013)
  • Decrease US$ 1,894.475 million (2012)
Number of employees
~19,000 in 60 countries (2017)
Website www.flowserve.com

The Flowserve Corporation is an American multinational corporation and one of the largest suppliers of industrial and environmental machinery such as pumps, valves, end face mechanical seals, automation, and services to the power, oil, gas, chemical and other industries. Headquartered in Irving, Texas, which is a suburb of Dallas, Texas, Flowserve has over 19,000 employees in more than 60 countries. Flowserve sells products and offers aftermarket services to engineering and construction firms, original equipment manufacturers, distributors and end users. The Flowserve brand name originated in 1997 with a merger of BW/IP and Durco International.

On August 21, 2007, Flowserve Corporation was recognized by CIO magazine as one of the 2007 CIO 100 Award Honorees.

Flowserve heritage dates back to the 1790 founding of Simpson & Thompson by Thomas Simpson, later to become Worthington Simpson Pumps, one of the companies that became part of BW/IP. The company was created in 1997 with the merger of two fluid motion and control companies – BW/IP and Durco International.

Acquisitions include HydroTechnik Olomouc in 2006, Sealing Systems in 2007, Calder Ag in 2009 and Valbart Srl in 2010. In October 2011 Flowserve acquired Lawrence Pumps Inc. Also in March 2013 it acquired one plant from L&T Valves situated in Maraimalainagar,Tamil Nadu. In 2015 Flowserve acquired SIHI.

Flowserve comprises over 48 fluid motion and control products. They are in alphabetical order: ACEC Centrifugal, Accord, Aldrich, Anchor Darling, Argus, Atomac, Automax, BW Seals, Byron Jackson, Cameron, Calder, DuraClear, Durametallic, Durco, Edward, Five Star Seals, Flowserve, Gestra, IDP, Interseal, Jeumont-Schneider, Kammer, Limitorque, Logix, McCANNA/MARPAC, NAF, NAVAL, Noble Alloy, Norbro, Nordstrom, PMV, Pac-Seal, Pacific, Pacific Wietz, Pleuger, Polyvalve, Schmidt Armaturen, Scienco, Serck Audco, Sier-Bath Rotary, TKL, United Centrifugal, Valtek, Valtek EMA, Vogt, Western Land Roller, Wilson-Snyder, Worcester Controls, Worthington.

Flowserve has grown through mergers and acquisitions.

In July 2005, Flowserve underwent a leadership change. The board of directors announced Lewis M. Kling, COO at the time, as the new president, CEO, and a member of the board of directors. On May 30, 2007 Kling's employment agreement was extended until February 28, 2010. Lewis M. Kling announced his retirement at the end of the upon agreement in February 2010. Kling was elected vice chairman of the board effective October 1, 2009. Mark Blinn succeeded Kling as CEO. Previously Mark Blinn served as CFO from 2004 to October 1, 2009 when he officially took over as CEO and vice chairman of the board.

Current members of the board of directors of Flowserve are: Mark A. Blinn, Kevin E. Sheehan, Christopher A. Bartlett (DBA), Gayla J. Delly, Roger L. Fix, John R. Friedery, Joseph E. Harlan, Diane C. Harris, Michael F. Johnston, Lewis M. Kling, Rick J. Mills, Charles M. Rampacek, James O. Rollans and William C. Rusnack.

Flowserve has five training centers for students around the world to attend. They are in Irving, TX, Kalamazoo, MI, Houston, TX, Baton Rouge, Louisiana, and Desio, Italy. The learning resource center (LRC) in Irving is 24,000 square feet (2,200 m) with classrooms, static labs, and power labs with complete pumping systems.

The LRC in Italy is the most recent, opening on April 20, 2010.

To support the Hurricane Katrina disaster relief, Flowserve donated $50,000 and matched up to $50,000 in employee donations to the Red Cross according to a CNN article.

On Feb 3, 2004, Flowserve announced restatement of its financial statements for aggregate estimated pretax adjustments for 2003. The restatement was approximately $11 million.

On Oct 26, 2004, Flowserve determined to restate its previously announced financial results for the second quarter of 2004, including certain post-closing adjustments and recently identified out-of-period expenses. The restatement had no impact on net cash balance.

On Feb 7, 2005, Flowserve confirmed that it would restate its 2000 through first quarter 2004 financial statements, resulting from an ongoing comprehensive review of the company's accounts. The restatement reduced net income for the periods restated.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2022 2023-02-21 Future report Set alerts
Q3 2022 2022-10-31 0.09 0.09
Q2 2022 2022-07-27 0.30 0.30
Q1 2022 2022-05-02 0.07 0.07
Q4 2021 2022-02-23 0.45 0.45
Q3 2021 2021-10-27 0.29 0.29
Q2 2021 2021-08-05 0.37 0.37
Q1 2021 2021-05-03 0.28 0.28
Q4 2020 2021-02-23 0.53 0.53
Q3 2020 2020-11-05 0.50 0.50

Ratings

2016-05-10 Initiated Coverage KeyBanc Sector Weight
2016-05-10 Initiated Coverage KeyCorp Sector Weight
2016-05-02 Boost Price Target Stifel Nicolaus Buy $51.00 to $55.00
2016-05-02 Reiterated Rating Robert W. Baird Hold
2016-04-30 Reiterated Rating Jefferies Group Buy
2016-04-06 Boost Price Target Susquehanna Neutral $39.00 to $43.00
2016-04-05 Initiated Coverage BMO Capital Markets Market Perform $44.00
2016-04-04 Downgrade Nomura Neutral to Reduce $38.00
2016-04-04 Downgrade Nomura Holdings Inc. Neutral to Reduce $38.00
2016-02-23 Boost Price Target Susquehanna Neutral $37.00 to $39.00
2016-02-22 Downgrade Maxim Group Buy to Hold $48.00 to $45.00
2016-02-22 Lower Price Target Stifel Nicolaus Buy $52.00 to $51.00
2016-02-22 Boost Price Target RBC Capital Underperform $33.00 to $35.00
2016-02-22 Boost Price Target Royal Bank Of Canada Underperform $33.00 to $35.00
2016-02-08 Reiterated Rating Jefferies Buy $45.00
2016-02-08 Reiterated Rating Jefferies Group Buy $45.00
2016-02-05 Lower Price Target Susquehanna Neutral $39.00 to $37.00
2016-02-04 Lower Price Target Jefferies Group Buy $45.00
2016-02-02 Lower Price Target Nomura Neutral $48.00 to $38.00
2016-02-02 Reiterated Rating Oppenheimer Market Perform
2016-02-02 Lower Price Target RBC Capital Underperform $37.00 to $33.00
2016-02-02 Reiterated Rating Maxim Group Buy $55.00 to $48.00
2016-02-02 Reiterated Rating Oppenheimer Holdings Inc. Market Perform
2016-01-21 Lower Price Target Susquehanna $46.00 to $39.00
2016-01-21 Lower Price Target Seaport Global Securities $51.00 to $41.00
2016-01-21 Initiated Coverage Citigroup Inc. Neutral $39.00
2016-01-12 Lower Price Target DA Davidson $50.00 to $42.00
2015-12-28 Reiterated Rating Wedbush Buy
2015-12-23 Reiterated Rating RBC Capital Underperform
2015-12-22 Reiterated Rating Wedbush Outperform $65.00 to $55.00
2015-11-16 Lower Price Target Kepler Capital Markets €330.00 to €290.00
2015-11-03 Initiated Coverage SunTrust Neutral $49.00
2015-11-03 Initiated Coverage SunTrust Banks Inc. Neutral $49.00
2015-11-02 Reiterated Rating Oppenheimer Hold
2015-11-02 Lower Price Target Wedbush Outperform $68.00 to $65.00
2015-11-02 Boost Price Target Susquehanna Neutral $43.00 to $46.00
2015-11-02 Lower Price Target RBC Capital Underperform $43.00 to $42.00
2015-11-01 Reiterated Rating Nomura Hold $48.00
2015-10-19 Lower Price Target Maxim Group Buy $58.00 to $55.00
2015-10-15 Lower Price Target Susquehanna Neutral $50.00 to $43.00
2015-10-07 Lower Price Target Nomura Neutral $55.00 to $48.00
2015-09-21 Lower Price Target RBC Capital $47.00 to $43.00
2015-08-03 Reiterated Rating Wedbush Buy $71.00 to $68.00
2015-08-03 Reiterated Rating RBC Capital Underperform $51.00 to $47.00
2015-07-29 Reiterated Rating Maxim Group Buy $65.00 to $60.00
2015-07-27 Downgrade BB&T Corp. Buy to Hold
2015-07-07 Lower Price Target KeyBanc $65.00 to $62.00
2015-07-03 Reiterated Rating Wedbush Outperform $71.00
2015-05-16 Reiterated Rating Cowen and Company Market Perform $66.00 to $64.00
2015-05-07 Reiterated Rating Susquehanna Hold $60.00 to $59.00
2015-05-06 Lower Price Target Maxim Group Buy $70.00 to $65.00
2015-05-04 Reiterated Rating Oppenheimer Market Perform
2015-05-04 Lower Price Target RBC Capital Sell $55.00 to $50.00
2015-04-28 Reiterated Rating Jefferies Group Buy $73.00 to $67.00
2015-04-17 Lower Price Target Barclays Overweight $68.00 to $66.00
2015-04-17 Downgrade Oppenheimer Outperform to Market Perform
2015-04-17 Lower Price Target Barclays PLC Overweight $68.00 to $66.00
2015-04-14 Initiated Coverage Global Hunter Securities Neutral $63.00
2015-04-14 Initiated Coverage Seaport Global Securities Neutral $63.00
2015-03-31 Initiated Coverage Nomura Neutral $55.00
2015-03-05 Downgrade Cowen and Company Outperform to Market Perform
2015-02-19 Boost Price Target Barclays Overweight $67.00 to $68.00
2015-02-19 Boost Price Target RBC Capital Sell $53.00 to $57.00
2015-02-19 Boost Price Target Oppenheimer Outperform $62.00 to $68.00
2015-02-18 Reiterated Rating Maxim Group Buy $68.00 to $70.00
2015-01-29 Lower Price Target Maxim Group Buy $70.00 to $68.00
2015-01-29 Lower Price Target Oppenheimer Outperform $76.00 to $62.00
2015-01-28 Initiated Coverage Boenning Scattergood Neutral
2015-01-22 Downgrade Bank of America Buy to Neutral $72.00 to $61.00
2015-01-22 Downgrade Robert W. Baird Outperform to Neutral $70.00 to $60.00
2015-01-22 Downgrade Bank of America Corp. Buy to Neutral $72.00 to $61.00
2015-01-16 Initiated Coverage Susquehanna Neutral $59.00
2015-01-12 Lower Price Target Jefferies Group Buy $76.00 to $68.00
2015-01-05 Lower Price Target Stifel Nicolaus Buy $80.00 to $75.00
2014-12-22 Lower Price Target Barclays Overweight $79.00 to $70.00
2014-12-16 Lower Price Target Maxim Group Buy $80.00 to $70.00
2014-12-15 Lower Price Target DA Davidson Neutral $73.00 to $64.00
2014-12-05 Lower Price Target Bank of America Buy $84.00 to $76.00
2014-11-28 Downgrade Vertical Research Sell
2014-11-24 Initiated Coverage RBC Capital Underperform $64.00
2014-10-27 Reiterated Rating Barclays Overweight $81.00 to $79.00
2014-10-27 Reiterated Rating DA Davidson Neutral $75.00 to $70.00
2014-10-27 Lower Price Target Maxim Group Buy $92.00 to $80.00
2014-10-27 Upgrade Wedbush Neutral to Outperform $78.00
2014-10-27 Upgrade Stifel Nicolaus Hold to Buy $80.00
2014-10-13 Reiterated Rating Barclays Overweight $85.00 to $81.00
2014-10-02 Initiated Coverage DA Davidson Neutral $75.00
2014-09-02 Initiated Coverage Barclays Overweight $85.00
2014-07-25 Upgrade Maxim Group Hold to Buy $92.00
2014-06-27 Initiated Coverage Goldman Sachs Sell $78.00
2014-04-11 Boost Price Target Robert W. Baird Outperform $90.00 to $92.00
2014-02-20 Boost Price Target BMO Capital Markets Outperform $83.00 to $90.00
2014-02-20 Boost Price Target Wedbush $68.00 to $73.00
2014-01-14 Upgrade Jefferies Group Hold to Buy $93.00
2014-01-07 Initiated Coverage Janney Montgomery Scott Buy
2013-11-25 Initiated Coverage SunTrust Neutral to Buy
2013-11-19 Initiated Coverage Cowen and Company Outperform to Outperform $83.00
2013-10-28 Reiterated RBC Capital Mkts Outperform $65 to $80
2013-10-28 Boost Price Target Jefferies Group Hold $58.00 to $72.00
2013-10-28 Boost Price Target Credit Suisse Outperform $67.00 to $83.00
2013-10-28 Boost Price Target RBC Capital Outperform $65.00 to $80.00
2013-10-25 Boost Price Target BB&T Corp. Buy $73.00
2013-10-16 Initiated Coverage Bank of America Buy $72.00
2012-12-19 Initiated Oppenheimer Outperform $175
2012-12-04 Initiated KeyBanc Capital Mkts Buy $160
2012-09-06 Initiated William Blair Mkt Perform
2012-02-24 Reiterated RBC Capital Mkts Outperform $130 to $140
2011-11-02 Reiterated UBS Buy $105 to $111
2016-05-10 Initiated Coverage KeyBanc Sector Weight
2016-05-10 Initiated Coverage KeyCorp Sector Weight
2016-05-02 Boost Price Target Stifel Nicolaus Buy $51.00 to $55.00
2016-05-02 Reiterated Rating Robert W. Baird Hold
2016-04-30 Reiterated Rating Jefferies Group Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
BLINN MARK A President & CEO 0.08%  (110078) FLS / KRA / TXN /
Pajonas Thomas L SVP, Chief Operating Officer 0.06%  (87156) FLS / MTOR /
OConnor Carey SVP, GC and Secretary 0.04%  (50743) FLS /
Stephens Dave SVP, Human Resources 0.03%  (42273) FLS /
Ovelmen Karyn F. EVP, Chief Financial Officer 0.03%  (40154) FLS / LYB /
Rowe Robert Scott President & CEO 0.03%  (34670) CAM / FLS / SLB /
Gillespie Keith E. Chief Strategy & Admin Officer 0.02%  (33895) FLS /
DAILEY MARK D SVP and Chief Admin Ofcr 0.02%  (33840) FLS /
Taff Michael S SVP and CFO 0.02%  (32102) CBI / FLS /
Wilson Kirk President, AMSS 0.02%  (29104) FLS /
Lenander John President, FCO 0.02%  (24829) FLS /
Roueche John E III Interim CFO 0.02%  (21134) FLS /
Drees Jeff President, IPO 0.01%  (16835) FLS /
Jackson Kim President, EPO 0.01%  (13385) FLS /
FIX ROGER L 0.01%  (9218) CVGI / FLS / SXI /
Darner Leif 0.01%  (9218) FLS /