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

Shares of Flowserve Co. (NYSE:FLS) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $56.11.

Several equities research analysts have weighed in on FLS shares. UBS Group raised their price objective on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Mizuho restated a “buy” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price objective on Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their target price on Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Citigroup upped their price target on Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st.

Insider Activity

In related news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the transaction, the chief executive officer now owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of Flowserve

Several hedge funds have recently added to or reduced their stakes in FLS. Signaturefd LLC raised its position in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares during the period. nVerses Capital LLC bought a new stake in Flowserve during the 2nd quarter worth approximately $34,000. YHB Investment Advisors Inc. acquired a new stake in Flowserve during the 1st quarter worth approximately $36,000. Raleigh Capital Management Inc. lifted its stake in Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after buying an additional 596 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after buying an additional 616 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE FLS opened at $47.74 on Thursday. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.19 and a beta of 1.42. The company has a current ratio of 2.00, a quick ratio of 1.28 and a debt-to-equity ratio of 0.60. Flowserve has a 1-year low of $35.31 and a 1-year high of $52.09. The company has a 50 day moving average of $47.97 and a 200-day moving average of $46.58.

Flowserve (NYSE:FLS) last issued its quarterly earnings data 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 firm had revenue of $1.16 billion during 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 business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities analysts forecast that Flowserve will post 2.72 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. Flowserve’s payout ratio is currently 47.46%.

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.