Flowserve Co. (NYSE:FLS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Flowserve Co. (NYSE:FLS) have been given an average rating of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $67.50.

A number of research firms have recently commented on FLS. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Stifel Nicolaus raised their price target on Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 24th. Bank of America boosted their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the company from $55.00 to $69.00 in a research note on Thursday, December 12th.

Institutional Trading of Flowserve

Several institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Flowserve in the 2nd quarter valued at about $609,000. GAMMA Investing LLC increased its stake in Flowserve by 53.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,517 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 530 shares during the period. CWM LLC lifted its position in Flowserve by 65.9% in the third quarter. CWM LLC now owns 34,910 shares of the industrial products company’s stock valued at $1,805,000 after purchasing an additional 13,865 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Flowserve by 68.7% during the third quarter. Exchange Traded Concepts LLC now owns 7,629 shares of the industrial products company’s stock valued at $394,000 after purchasing an additional 3,107 shares during the period. Finally, Creative Planning grew its holdings in shares of Flowserve by 6.9% in the third quarter. Creative Planning now owns 6,879 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 444 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Trading Up 1.1 %

Shares of FLS stock opened at $63.20 on Thursday. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 1.28 and a beta of 1.42. The company’s fifty day simple moving average is $60.49 and its two-hundred day simple moving average is $54.81. Flowserve has a 1 year low of $40.23 and a 1 year high of $65.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, December 27th. Flowserve’s payout ratio is presently 41.58%.

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.