Flowserve Co. (NYSE:FLS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Flowserve Co. (NYSE:FLS) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $51.55.

FLS has been the subject of a number of research reports. Stifel Nicolaus boosted their price objective on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup upped their price target on Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. TD Cowen upped their price target on Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. UBS Group upped their price target on Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Bank of America upped their price target on Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th.

Flowserve Price Performance

Shares of NYSE FLS opened at $47.55 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. Flowserve has a twelve month low of $35.31 and a twelve month high of $50.49. The stock has a 50 day moving average of $48.29 and a two-hundred day moving average of $44.78. The stock has a market cap of $6.26 billion, a P/E ratio of 26.86, a P/E/G ratio of 1.24 and a beta of 1.42.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, research analysts forecast that Flowserve will post 2.66 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 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 1.77%. The ex-dividend date is Friday, June 28th. Flowserve’s dividend payout ratio is presently 47.46%.

Insider Buying and Selling

In other Flowserve news, CEO Robert Scott Rowe sold 42,269 shares of the company’s stock in a transaction on 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 owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Flowserve by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after buying an additional 144,704 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Flowserve by 2.5% in the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock valued at $403,065,000 after buying an additional 246,636 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Flowserve by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock valued at $82,595,000 after buying an additional 157,125 shares in the last quarter. Norges Bank purchased a new stake in Flowserve during the 4th quarter worth about $59,261,000. Finally, Gabelli Funds LLC increased its position in Flowserve by 1.3% during the 1st quarter. Gabelli Funds LLC now owns 1,283,016 shares of the industrial products company’s stock worth $58,608,000 after purchasing an additional 16,500 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.