Brokerages Set Flowserve Co. (NYSE:FLS) PT at $51.82

Flowserve Co. (NYSE:FLS) has received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $51.82.

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on Flowserve from $55.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, July 18th. StockNews.com raised Flowserve from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 12th. Robert W. Baird boosted their price target on Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Bank of America raised their price objective on Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Citigroup boosted their price objective on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st.

Flowserve Stock Performance

Shares of Flowserve stock opened at $50.69 on Friday. Flowserve has a 12 month low of $35.31 and a 12 month high of $52.06. The firm has a market capitalization of $6.67 billion, a P/E ratio of 28.64, a P/E/G ratio of 1.30 and a beta of 1.42. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $48.55 and a two-hundred day simple moving average of $45.75.

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, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. Flowserve’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. On average, equities analysts forecast that Flowserve will post 2.66 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, June 28th. Flowserve’s payout ratio is currently 47.46%.

Insiders Place Their Bets

In other news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction dated Wednesday, May 22nd. The stock was 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 of the company’s stock, valued at $20,354,005.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FLS. Vanguard Group Inc. lifted its position in Flowserve by 0.5% during the third quarter. Vanguard Group Inc. now owns 13,260,754 shares of the industrial products company’s stock valued at $527,380,000 after purchasing an additional 71,320 shares during the last quarter. Raymond James & Associates grew its position in Flowserve by 1.0% in the fourth quarter. Raymond James & Associates now owns 435,577 shares of the industrial products company’s stock worth $17,954,000 after acquiring an additional 4,354 shares in the last quarter. Pacer Advisors Inc. increased its stake in Flowserve by 79.1% during the fourth quarter. Pacer Advisors Inc. now owns 19,723 shares of the industrial products company’s stock worth $813,000 after acquiring an additional 8,708 shares during the last quarter. JB Capital LLC purchased a new stake in Flowserve during the fourth quarter valued at approximately $233,000. Finally, Welch Group LLC bought a new stake in shares of Flowserve in the 4th quarter valued at approximately $254,000. 93.93% of the stock is currently owned by institutional investors.

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.