Analysts Set Flowserve Co. (NYSE:FLS) Target Price at $47.75

Shares of Flowserve Co. (NYSE:FLS) have earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $47.75.

Several brokerages have issued reports on FLS. Mizuho boosted their price target on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Citigroup upped their price target on shares of Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Robert W. Baird upped their target price on shares of Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Royal Bank of Canada upped their target price on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. Finally, StockNews.com upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 22nd.

Institutional Trading of Flowserve

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Flowserve by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after acquiring an additional 144,704 shares during the period. BlackRock Inc. boosted its stake in shares of Flowserve by 0.8% in the first quarter. BlackRock Inc. now owns 10,793,498 shares of the industrial products company’s stock worth $387,485,000 after acquiring an additional 88,950 shares during the period. Wellington Management Group LLP boosted its stake in shares of Flowserve by 2.5% in the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after acquiring an additional 246,636 shares during the period. State Street Corp boosted its stake in Flowserve by 2.4% during the first quarter. State Street Corp now owns 3,770,040 shares of the industrial products company’s stock valued at $128,931,000 after buying an additional 86,815 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Flowserve by 1.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,261,627 shares of the industrial products company’s stock valued at $93,378,000 after buying an additional 31,254 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

NYSE FLS opened at $46.39 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $6.09 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 1.33 and a beta of 1.46. The company has a 50 day moving average price of $44.26 and a two-hundred day moving average price of $40.86. Flowserve has a 12-month low of $32.05 and a 12-month high of $48.31.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts predict that Flowserve will post 2.55 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.21 per share. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.81%. Flowserve’s payout ratio is presently 59.57%.

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.