Flowserve (NYSE:FLS) Hits New 52-Week High – Still a Buy?

Flowserve Co. (NYSE:FLS) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $64.96 and last traded at $64.76, with a volume of 1332623 shares traded. The stock had previously closed at $63.50.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FLS shares. Jefferies Financial Group initiated coverage on Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. TD Cowen raised their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Robert W. Baird boosted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Finally, Mizuho lifted their price target on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.10.

Flowserve Stock Down 0.0 %

The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average price is $60.07 and its 200 day moving average price is $53.87. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 1.32 and a beta of 1.42.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, research analysts forecast that Flowserve Co. will post 2.7 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio is presently 41.58%.

Institutional Trading of Flowserve

Several large investors have recently made changes to their positions in the business. KPP Advisory Services LLC raised its holdings in shares of Flowserve by 3.2% during the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock worth $364,000 after purchasing an additional 215 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Flowserve by 0.6% in the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after acquiring an additional 215 shares during the period. National Bank of Canada FI boosted its position in Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 252 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Flowserve by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after purchasing an additional 277 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.