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Valmont Industries, Inc. (VMI) - free report >>
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Valmont Industries, Inc. (VMI) - free report >>
Flowserve Corporation (FLS) - free report >>
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Here's Why You Should Hold On to Flowserve (FLS) Stock Now
Flowserve Corporation (FLS - Free Report) is benefiting from strength across its oil & gas, chemical, power, general Industries and water end markets despite supply-chain constraints, rising raw material costs and foreign-currency headwinds. Also, its realignment activities are helping it capture more margin enhancement opportunities with efficient cost management and higher productivity.
Growth in original equipment and aftermarket bookings are aiding Flowserve. The company’s Diversify, Decarbonize and Digitize (3D) strategy has accelerated bookings. In the fourth quarter, Flowserve expects its bookings to exceed $1 billion, driven by strength in traditional and energy transition end markets.
Flowserve utilizes its cash flow to reward its shareholders by distributing dividends. The company paid out dividends worth $78.4 million to its shareholders in the first nine months of 2022.
Image Source: Zacks Investment Research
In light of the abovementioned positives, we believe, investors should hold on to FLS stock for now, as suggested by its current Zacks Rank #3 (Hold). In the past six months, the stock has rallied 9.1%.
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Crane Holdings, Co. (CR - Free Report) presently sports a Zacks Rank #2 (Buy). CR’s earnings surprise in the last four quarters was 6.2%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.
In the past 60 days, Crane Holdings’ earnings estimates have increased 0.1% for 2022. The stock has gained 10.6% in the past six months.
Valmont Industries, Inc. (VMI - Free Report) presently has a Zacks Rank of 2. VMI’s earnings surprise in the last four quarters was 12.5%, on average.
In the past 60 days, Valmont’s earnings estimates have increased 0.1% for 2022. The stock has rallied 26.6% in the past six months.
IDEX Corporation (IEX - Free Report) presently has a Zacks Rank of 2. IEX’s earnings surprise in the last four quarters was 5.7%, on average.
In the past 60 days, IDEX’s earnings estimates have increased 0.1% for 2022. The stock has rallied 17.5% in the past six months.