Flowserve (NYSE:FLS) PT Raised to $60.00 at Robert W. Baird

Flowserve (NYSE:FLS) had its price objective increased by Robert W. Baird from $57.00 to $60.00 in a research note published on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

FLS has been the topic of several other reports. Citigroup lifted their price target on shares of Flowserve from $56.00 to $59.00 and gave the company a buy rating in a report on Wednesday, May 1st. UBS Group boosted their target price on shares of Flowserve from $46.00 to $54.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. StockNews.com cut Flowserve from a strong-buy rating to a buy rating in a research note on Monday, July 29th. Mizuho restated a buy rating and set a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Finally, TD Cowen upped their target price on Flowserve from $50.00 to $55.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $56.11.

Flowserve Trading Down 4.4 %

Shares of FLS stock opened at $46.82 on Wednesday. Flowserve has a fifty-two week low of $35.31 and a fifty-two week high of $52.09. The stock’s fifty day moving average price is $48.51 and its two-hundred day moving average price is $46.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.28 and a current ratio of 2.00. The company has a market cap of $6.15 billion, a PE ratio of 26.45, a P/E/G ratio of 1.19 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.10. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company earned $0.52 EPS. Flowserve’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts predict that Flowserve will post 2.72 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, June 28th. Flowserve’s payout ratio is presently 47.46%.

Insider Buying and Selling at Flowserve

In other news, CEO Robert Scott Rowe sold 42,269 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the completion of the transaction, the chief executive officer now directly owns 407,243 shares in the company, valued at $20,354,005.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Flowserve

Several large investors have recently modified their holdings of the company. Signaturefd LLC boosted its position in Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 370 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Flowserve in the 2nd quarter valued at about $34,000. YHB Investment Advisors Inc. bought a new stake in shares of Flowserve during the 1st quarter valued at about $36,000. Raleigh Capital Management Inc. grew its stake in Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 616 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.