Flowserve (NYSE:FLS) had its price target raised by Morgan Stanley from $46.00 to $47.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The firm currently has an underweight rating on the industrial products company’s stock.
Several other research firms have also weighed in on FLS. Zacks Investment Research upgraded shares of HANNOVER RUECK/S from a sell rating to a hold rating in a report on Friday, May 17th. Citigroup set a $12.00 price target on shares of Avaya and gave the company a hold rating in a research note on Monday, July 8th. Finally, ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $50.08.
Shares of FLS opened at $52.79 on Wednesday. Flowserve has a 52-week low of $35.88 and a 52-week high of $56.86. The company has a quick ratio of 1.57, a current ratio of 2.17 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average of $50.13. The firm has a market cap of $6.92 billion, a P/E ratio of 30.17, a PEG ratio of 1.51 and a beta of 1.62.
Flowserve (NYSE:FLS) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The firm had revenue of $890.05 million for the quarter, compared to analysts’ expectations of $943.79 million. During the same quarter in the previous year, the company posted $0.27 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts expect that Flowserve will post 2.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 21st were issued a $0.19 dividend. The ex-dividend date was Thursday, June 20th. This represents a $0.76 annualized dividend and a yield of 1.44%. Flowserve’s dividend payout ratio (DPR) is currently 43.43%.
In other Flowserve news, insider John Lenander sold 5,761 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $49.32, for a total transaction of $284,132.52. Following the completion of the transaction, the insider now owns 16,568 shares of the company’s stock, valued at $817,133.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FLS. Valeo Financial Advisors LLC increased its holdings in Flowserve by 1,211.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 682 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 630 shares during the last quarter. CSat Investment Advisory L.P. boosted its position in shares of Flowserve by 91.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock worth $41,000 after buying an additional 520 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in shares of Flowserve during the fourth quarter worth $128,000. Bluestein R H & Co. purchased a new position in shares of Flowserve during the first quarter worth $203,000. Finally, Cubic Asset Management LLC acquired a new stake in shares of Flowserve in the first quarter valued at $207,000. Institutional investors and hedge funds own 98.52% of the company’s stock.
Flowserve Company Profile
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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