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

Flowserve Corporation (NYSE:FLS) has been assigned an average recommendation of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $64.00.

FLS has been the subject of several research reports. Mizuho set a $60.00 price objective on shares of Flowserve in a research note on Friday, May 16th. Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. Robert W. Baird cut their price objective on Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group lifted their price objective on Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus increased their target price on shares of Flowserve from $59.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, July 21st.

Hedge Funds Weigh In On Flowserve

Several large investors have recently modified their holdings of FLS. KPP Advisory Services LLC raised its position in shares of Flowserve by 2.3% during the 2nd quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 222 shares during the period. FNY Investment Advisers LLC acquired a new stake in Flowserve in the second quarter worth $132,000. D.A. Davidson & CO. bought a new stake in Flowserve in the second quarter valued at $1,094,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Flowserve during the second quarter valued at $2,300,000. Finally, William Blair Investment Management LLC grew its position in shares of Flowserve by 4,997.4% during the second quarter. William Blair Investment Management LLC now owns 429,256 shares of the industrial products company’s stock worth $22,472,000 after acquiring an additional 420,835 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE:FLS opened at $56.01 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $7.32 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 1.22 and a beta of 1.25. The firm has a 50-day moving average price of $50.99 and a two-hundred day moving average price of $51.77. Flowserve has a twelve month low of $37.34 and a twelve month high of $65.08.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Flowserve had a return on equity of 18.64% and a net margin of 6.28%. As a group, research analysts expect that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.50%. 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.