Flowserve Co. (NYSE:FLS) Receives $51.55 Average Target Price from Brokerages

Shares of Flowserve Co. (NYSE:FLS) have received an average rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $51.55.

FLS has been the subject of several recent research reports. TD Cowen boosted their price objective on Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus raised their price objective on shares of Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup upped their target price on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. StockNews.com upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 12th. Finally, Mizuho reiterated a “buy” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a report on Wednesday, May 1st.

Insider Transactions at Flowserve

In other Flowserve news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $49.98, for a total value of $2,112,604.62. Following the sale, the chief executive officer now directly owns 407,243 shares in the company, valued at approximately $20,354,005.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new position in Flowserve during the fourth quarter worth $26,000. YHB Investment Advisors Inc. acquired a new stake in Flowserve in the 1st quarter valued at about $36,000. Raleigh Capital Management Inc. grew its holdings in Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares during the period. TFO Wealth Partners LLC increased its position in Flowserve by 14,663.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,613 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Flowserve in the first quarter valued at approximately $87,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Up 0.5 %

Shares of NYSE FLS opened at $48.10 on Wednesday. The business has a fifty day moving average of $48.26 and a two-hundred day moving average of $44.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88. Flowserve has a 52-week low of $35.31 and a 52-week high of $50.49. The stock has a market cap of $6.33 billion, a PE ratio of 27.18, a PEG ratio of 1.24 and a beta of 1.44.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, equities research analysts expect that Flowserve will post 2.66 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, June 28th. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

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.