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

Flowserve Co. (NYSE:FLS) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $51.55.

Several equities research analysts recently weighed in on the company. TD Cowen increased their target price on Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Stifel Nicolaus raised their target price on shares of Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America lifted their target price on shares of Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Citigroup raised their price target on shares of Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 12th.

Insiders Place Their Bets

In other news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flowserve

A number of hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new stake in shares of Flowserve during the fourth quarter valued at $26,000. YHB Investment Advisors Inc. bought a new position in Flowserve during the 1st quarter valued at about $36,000. Raleigh Capital Management Inc. grew its stake in shares of Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 596 shares during the period. TFO Wealth Partners LLC raised its holdings in shares of Flowserve by 14,663.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Flowserve during the first quarter valued at approximately $87,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 0.5 %

Shares of FLS opened at $48.10 on Wednesday. Flowserve has a fifty-two week low of $35.31 and a fifty-two week high of $50.49. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.24 and a beta of 1.44. The firm has a 50 day moving average price of $48.26 and a 200-day moving average price of $44.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88.

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

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, June 28th. Flowserve’s dividend 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.