Flowserve (NYSE:FLS) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Flowserve (NYSE:FLS) from a neutral rating to an outperform rating in a research note published on Monday, MarketBeat Ratings reports. They currently have $71.00 target price on the industrial products company’s stock.

FLS has been the topic of several other research reports. Royal Bank of Canada dropped their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Mizuho boosted their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Citigroup dropped their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, TD Cowen boosted their target price on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Trading Up 2.8 %

NYSE FLS opened at $50.38 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The firm has a market cap of $6.64 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company has a 50 day moving average price of $58.19 and a 200 day moving average price of $56.31. Flowserve has a 52 week low of $43.66 and a 52 week high of $65.08.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, sell-side analysts forecast that Flowserve will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Institutional Trading of Flowserve

Hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in Flowserve during the third quarter worth $25,000. Headlands Technologies LLC boosted its holdings in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after buying an additional 479 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve during the third quarter worth $29,000. Park Square Financial Group LLC purchased a new stake in Flowserve during the fourth quarter worth $33,000. Finally, Colonial Trust Co SC raised its position in Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 478 shares during the period. 93.93% of the stock is owned by hedge funds and other 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.