Brokerages Set Flowserve Co. (NYSE:FLS) Target Price at $64.11

Shares of Flowserve Co. (NYSE:FLS) have been given a consensus recommendation of “Buy” by the ten analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $63.00.

A number of research analysts recently issued reports on FLS shares. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Royal Bank of Canada lifted their target price on Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. StockNews.com upgraded Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Citigroup lowered their target price on Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus lifted their target price on Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, May 1st.

Institutional Trading of Flowserve

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Flowserve by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company’s stock valued at $775,209,000 after buying an additional 101,668 shares in the last quarter. FIL Ltd boosted its stake in shares of Flowserve by 71.7% in the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock valued at $302,271,000 after buying an additional 2,193,904 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Flowserve by 5.4% in the first quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company’s stock valued at $237,185,000 after buying an additional 248,273 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Flowserve by 9.7% in the fourth quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company’s stock valued at $168,272,000 after buying an additional 258,361 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of Flowserve by 6.8% in the first quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock valued at $133,897,000 after buying an additional 173,528 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Trading Down 0.4%

NYSE:FLS opened at $51.40 on Friday. The stock’s 50 day moving average price is $46.56 and its 200 day moving average price is $54.74. The company has a market capitalization of $6.72 billion, a PE ratio of 24.02, a P/E/G ratio of 1.35 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve has a 52-week low of $37.34 and a 52-week high of $65.08.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. On average, research analysts anticipate that Flowserve will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.21 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

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.