Flowserve (NYSE:FLS) Price Target Raised to $65.00 at Mizuho

Flowserve (NYSE:FLS) had its price objective increased by Mizuho from $58.00 to $65.00 in a report released on Thursday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other research analysts also recently commented on the company. Royal Bank of Canada lifted their price target on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group increased their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a report on Thursday, October 10th. TD Cowen boosted their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and an average price target of $58.50.

Flowserve Stock Performance

NYSE:FLS opened at $54.51 on Thursday. The firm has a market capitalization of $7.18 billion, a PE ratio of 30.80, a PEG ratio of 1.27 and a beta of 1.39. Flowserve has a 1 year low of $35.31 and a 1 year high of $55.90. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $49.71 and its 200 day simple moving average is $48.64.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. On average, sell-side analysts anticipate that Flowserve will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is 47.46%.

Institutional Investors Weigh In On Flowserve

A number of institutional investors have recently added to or reduced their stakes in FLS. Millennium Management LLC lifted its position in shares of Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after buying an additional 1,596,429 shares during the period. Silvercrest Asset Management Group LLC bought a new position in shares of Flowserve during the first quarter valued at $41,413,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Flowserve in the 2nd quarter valued at $37,100,000. AQR Capital Management LLC grew its holdings in shares of Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after purchasing an additional 663,631 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Flowserve by 5,256.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock worth $29,452,000 after purchasing an additional 600,866 shares in the last quarter. 93.93% of the stock is 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.