Flowserve (NYSE:FLS) PT Raised to $59.00 at Citigroup

Flowserve (NYSE:FLS) had its target price boosted by Citigroup from $56.00 to $59.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. Bank of America upped their price target on shares of Flowserve from $48.00 to $57.00 and gave the stock a buy rating in a report on Tuesday, April 30th. StockNews.com lowered shares of Flowserve from a strong-buy rating to a buy rating in a research report on Saturday, April 27th. Robert W. Baird increased their price objective on Flowserve from $50.00 to $57.00 and gave the stock a neutral rating in a research note on Wednesday. Mizuho restated a buy rating and set a $53.00 price objective (up from $50.00) on shares of Flowserve in a report on Wednesday. Finally, UBS Group increased their price target on Flowserve from $46.00 to $54.00 and gave the stock a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $51.55.

Flowserve Trading Up 0.5 %

Shares of FLS opened at $47.52 on Wednesday. The company has a market cap of $6.26 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.25 and a beta of 1.42. Flowserve has a twelve month low of $32.49 and a twelve month high of $49.35. The company’s fifty day simple moving average is $45.45 and its 200-day simple moving average is $41.58. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts expect that Flowserve will post 2.62 EPS for the current year.

Flowserve Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve’s dividend payout ratio is presently 47.46%.

Institutional Investors Weigh In On Flowserve

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG boosted its holdings in Flowserve by 332.7% in the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company’s stock worth $10,725,000 after acquiring an additional 207,346 shares in the last quarter. HighTower Advisors LLC boosted its stake in Flowserve by 4.8% in the 3rd quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company’s stock worth $1,936,000 after purchasing an additional 2,235 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in Flowserve during the 4th quarter worth approximately $6,031,000. Wakefield Asset Management LLLP acquired a new position in Flowserve during the 4th quarter valued at approximately $866,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Flowserve during the 4th quarter valued at approximately $5,970,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.