Brokerages Set Flowserve Co. (NYSE:FLS) PT at $51.55

Flowserve Co. (NYSE:FLS) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $51.55.

FLS has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 5th. Citigroup lifted their target price on shares of Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group boosted their price target on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, TD Cowen boosted their price target on shares of Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 2nd.

Flowserve Stock Up 0.9 %

FLS opened at $49.35 on Tuesday. The stock’s 50 day moving average price is $45.95 and its 200 day moving average price is $41.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28. The stock has a market cap of $6.50 billion, a P/E ratio of 27.88, a P/E/G ratio of 1.25 and a beta of 1.42. Flowserve has a 12 month low of $32.49 and a 12 month high of $49.38.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The business had revenue of $1.09 billion during 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% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. As a group, research analysts predict that Flowserve will post 2.62 earnings per share for the current year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.21 per share. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.70%. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

Institutional Trading of Flowserve

A number of hedge funds have recently made changes to their positions in FLS. Vanguard Group Inc. boosted its position 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 in the last quarter. Wellington Management Group LLP raised its holdings in Flowserve by 2.5% during 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 buying an additional 246,636 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 purchased a new stake in shares of Flowserve in the fourth quarter valued at about $59,261,000. Finally, Gabelli Funds LLC raised its holdings 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 valued at $51,543,000 after purchasing an additional 3,540 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.