Flowserve Co. (NYSE:FLS) Given Average Rating of “Buy” by Analysts

Flowserve Co. (NYSE:FLS) has earned an average rating of “Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $68.60.

Several equities analysts have commented on the stock. Mizuho boosted their price target on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Citigroup decreased their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Monday, March 17th. Finally, TD Cowen increased their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FIL Ltd raised its stake in shares of Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock worth $302,271,000 after buying an additional 2,193,904 shares in the last quarter. Norges Bank purchased a new position in shares of Flowserve during the 4th quarter worth approximately $94,629,000. Driehaus Capital Management LLC raised its holdings in shares of Flowserve by 307.1% in the fourth quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company’s stock worth $108,651,000 after acquiring an additional 1,424,948 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company’s stock valued at $118,953,000 after acquiring an additional 714,063 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Flowserve by 197.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after purchasing an additional 606,416 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Down 1.8 %

NYSE:FLS opened at $50.43 on Friday. Flowserve has a 52 week low of $43.66 and a 52 week high of $65.08. The stock’s fifty day moving average is $56.83 and its two-hundred day moving average is $56.38. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Research analysts anticipate that Flowserve will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio is presently 39.25%.

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.