Flowserve (NYSE:FLS) Price Target Raised to $54.00

Flowserve (NYSE:FLS) had its price objective upped by UBS Group from $46.00 to $54.00 in a research report released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the industrial products company’s stock.

FLS has been the topic of several other reports. Robert W. Baird boosted their target price on shares of Flowserve from $50.00 to $57.00 and gave the company a neutral rating in a research note on Wednesday. Mizuho reissued a buy rating and set a $53.00 price target (up from $50.00) on shares of Flowserve in a research report on Wednesday. Bank of America increased their price objective on Flowserve from $48.00 to $57.00 and gave the stock a buy rating in a research note on Tuesday. Royal Bank of Canada lifted their target price on Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. Finally, Citigroup increased their price target on shares of Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $51.55.

Flowserve Stock Up 0.5 %

Shares of Flowserve stock opened at $47.52 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. Flowserve has a 12-month low of $32.49 and a 12-month high of $49.35. The firm has a market capitalization of $6.26 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.24 and a beta of 1.42. The stock’s fifty day moving average is $45.45 and its 200-day moving average is $41.57.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. Equities analysts anticipate that Flowserve will post 2.62 earnings per share for the current year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a $0.21 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. This is an increase from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is currently 47.46%.

Institutional Trading of Flowserve

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Flowserve by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after purchasing an additional 144,704 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Flowserve by 2.5% in the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after purchasing an additional 246,636 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Flowserve by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock worth $82,595,000 after buying an additional 157,125 shares during the last quarter. Norges Bank bought a new position in Flowserve during the fourth quarter valued at about $59,261,000. Finally, Gabelli Funds LLC lifted its position in shares of Flowserve by 0.3% in the third quarter. Gabelli Funds LLC now owns 1,296,034 shares of the industrial products company’s stock worth $51,543,000 after buying an additional 3,540 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

About Flowserve

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.