Flowserve (NYSE:FLS) Price Target Raised to $53.00 at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price objective hoisted by Stifel Nicolaus from $51.00 to $53.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

FLS has been the topic of a number of other reports. Royal Bank of Canada upped their price target on shares of Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. Robert W. Baird upped their price target on shares of Flowserve from $46.00 to $50.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Citigroup upped their price target on shares of Flowserve from $50.00 to $56.00 and gave the company a buy rating in a research note on Monday, April 8th. Mizuho upped their price target on shares of Flowserve from $48.00 to $50.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, StockNews.com upgraded shares of Flowserve from a buy rating to a strong-buy rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Flowserve has a consensus rating of Moderate Buy and an average price target of $48.25.

Flowserve Stock Down 1.5 %

FLS opened at $45.67 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 1.32 and a beta of 1.46. Flowserve has a twelve month low of $32.05 and a twelve month high of $48.31. The company’s 50-day moving average price is $44.35 and its two-hundred day moving average price is $40.90.

Flowserve (NYSE:FLS) last released its earnings results on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, equities analysts expect that Flowserve will post 2.55 earnings per share for the current year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.21 dividend. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.84%. Flowserve’s dividend payout ratio is presently 59.57%.

Hedge Funds Weigh In On Flowserve

A number of institutional investors have recently made changes to their positions in FLS. Contravisory Investment Management Inc. bought a new position in shares of Flowserve in the 4th quarter worth $26,000. First Manhattan CO. LLC. increased its holdings in shares of Flowserve by 682.6% in the 1st quarter. First Manhattan CO. LLC. now owns 900 shares of the industrial products company’s stock worth $31,000 after buying an additional 785 shares during the last quarter. Quarry LP bought a new position in shares of Flowserve in the 1st quarter worth $38,000. Raleigh Capital Management Inc. increased its holdings in shares of Flowserve by 122.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after buying an additional 596 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Flowserve by 79.5% during the 4th quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.