Flowserve (NYSE:FLS) Downgraded to “Buy” at StockNews.com

StockNews.com lowered shares of Flowserve (NYSE:FLS) from a strong-buy rating to a buy rating in a research report report published on Saturday.

Other equities analysts also recently issued research reports about the company. Mizuho lifted their price target on Flowserve from $48.00 to $50.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Royal Bank of Canada lifted their price target on Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. Citigroup lifted their price target on shares of Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a report on Monday, April 8th. Robert W. Baird lifted their price target on shares of Flowserve from $46.00 to $50.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus lifted their price target on shares of Flowserve from $51.00 to $53.00 and gave the stock a buy rating in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve has a consensus rating of Hold and an average target price of $48.25.

Flowserve Stock Up 0.9 %

Shares of NYSE:FLS opened at $46.76 on Friday. The business has a fifty day simple moving average of $44.96 and a 200 day simple moving average of $41.29. Flowserve has a 12-month low of $32.37 and a 12-month high of $48.31. 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 firm has a market cap of $6.14 billion, a P/E ratio of 33.16, a P/E/G ratio of 1.33 and a beta of 1.46.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.63 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts predict that Flowserve will post 2.55 earnings per share for the current year.

Flowserve Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.21 per share. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.80%. Flowserve’s payout ratio is presently 59.57%.

Institutional Investors Weigh In On Flowserve

A number of hedge funds and other institutional investors have recently bought and sold shares of FLS. Contravisory Investment Management Inc. bought a new position in shares of Flowserve in the fourth quarter worth $26,000. YHB Investment Advisors Inc. bought a new position in shares of Flowserve in the first quarter worth $36,000. Raleigh Capital Management Inc. increased its holdings in shares of Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of Flowserve by 14,663.6% in the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,613 shares during the period. Finally, CWM LLC increased its holdings in shares of Flowserve by 153.0% in the third quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 1,201 shares during the period. Institutional investors own 93.93% of the company’s stock.

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.