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

Shares of Flowserve Co. (NYSE:FLS) have earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $51.55.

A number of brokerages have recently issued reports on FLS. Citigroup increased their target price on Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Mizuho reissued a “buy” rating and issued a $53.00 target price (up from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. Stifel Nicolaus increased their target price on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Robert W. Baird increased their target price on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, TD Cowen increased 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.

Insider Buying and Selling at Flowserve

In other Flowserve news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 407,243 shares in the company, 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 link. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLS. Peregrine Capital Management LLC bought a new position in shares of Flowserve in the 4th quarter worth $6,031,000. Eaton Financial Holdings Company LLC bought a new position in shares of Flowserve in the 4th quarter worth $2,169,000. Wakefield Asset Management LLLP bought a new position in shares of Flowserve in the 4th quarter worth $866,000. Hennessy Advisors Inc. boosted its position in shares of Flowserve by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 617,900 shares of the industrial products company’s stock worth $28,226,000 after purchasing an additional 76,400 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Flowserve in the 4th quarter worth $5,970,000. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

Shares of FLS stock opened at $47.55 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28. Flowserve has a fifty-two week low of $35.31 and a fifty-two week high of $50.49. The stock’s 50-day moving average is $48.29 and its two-hundred day moving average is $44.78. The firm has a market cap of $6.26 billion, a P/E ratio of 26.86, a PEG ratio of 1.24 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $0.40 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts predict that Flowserve will post 2.66 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. Flowserve’s payout ratio is 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.