Robert W. Baird Raises Flowserve (NYSE:FLS) Price Target to $57.00

Flowserve (NYSE:FLS) had its target price boosted by Robert W. Baird from $50.00 to $57.00 in a report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

FLS has been the subject of a number of other reports. Royal Bank of Canada boosted their price objective on shares of Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a report on Thursday, February 22nd. Stifel Nicolaus boosted their price target on shares of Flowserve from $51.00 to $53.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Bank of America raised their price objective on Flowserve from $48.00 to $57.00 and gave the company a buy rating in a research note on Tuesday. StockNews.com downgraded Flowserve from a strong-buy rating to a buy rating in a report on Saturday, April 27th. Finally, Citigroup increased their target price on Flowserve from $50.00 to $56.00 and gave the company a buy rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $51.55.

Flowserve Stock Up 0.5 %

FLS opened at $47.52 on Wednesday. The business’s fifty day simple moving average is $45.45 and its 200 day simple moving average is $41.57. Flowserve has a 52 week low of $32.49 and a 52 week high of $49.35. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6.26 billion, a PE ratio of 26.85, a P/E/G ratio of 1.24 and a beta of 1.42.

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

Flowserve Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. Flowserve’s payout ratio is 47.46%.

Institutional Trading of Flowserve

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLS. Contravisory Investment Management Inc. purchased a new stake in Flowserve in the fourth quarter worth about $26,000. YHB Investment Advisors Inc. purchased a new position in shares of Flowserve in the 1st quarter valued at approximately $36,000. Raleigh Capital Management Inc. boosted its position in shares of Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 596 shares in the last quarter. TFO Wealth Partners LLC grew its stake in Flowserve by 14,663.6% in the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,613 shares during the period. Finally, CWM LLC grew its stake in Flowserve by 153.0% in the third quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 1,201 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.