Flowserve Co. (NYSE:FLS – Get Rating) has received a consensus rating of “Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $39.88.
Several brokerages recently commented on FLS. Mizuho raised Flowserve from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $35.00 in a report on Friday, February 25th. StockNews.com began coverage on Flowserve in a report on Thursday, March 31st. They issued a “hold” rating for the company. Credit Suisse Group cut their price objective on Flowserve from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Morgan Stanley lifted their price objective on Flowserve from $32.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. Finally, Stifel Nicolaus lifted their target price on Flowserve from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 18th.
FLS stock traded down $1.32 on Monday, reaching $33.60. 26,269 shares of the company traded hands, compared to its average volume of 1,568,695. The company has a market cap of $4.38 billion, a P/E ratio of 34.44, a price-to-earnings-growth ratio of 1.17 and a beta of 1.64. The firm has a fifty day simple moving average of $33.89 and a 200-day simple moving average of $33.07. Flowserve has a one year low of $28.15 and a one year high of $44.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.11 and a quick ratio of 1.51.
The company also recently announced a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 25th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 24th. This represents a $0.80 annualized dividend and a dividend yield of 2.38%. Flowserve’s dividend payout ratio (DPR) is 82.47%.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Flowserve by 0.9% in the fourth quarter. BlackRock Inc. now owns 10,704,548 shares of the industrial products company’s stock worth $327,559,000 after purchasing an additional 99,467 shares during the last quarter. Nordea Investment Management AB bought a new stake in Flowserve during the first quarter worth approximately $182,253,000. State Street Corp increased its stake in Flowserve by 3.3% during the fourth quarter. State Street Corp now owns 3,385,643 shares of the industrial products company’s stock worth $104,271,000 after acquiring an additional 107,198 shares during the last quarter. Millennium Management LLC increased its stake in Flowserve by 106.5% during the fourth quarter. Millennium Management LLC now owns 2,286,258 shares of the industrial products company’s stock worth $69,959,000 after acquiring an additional 1,179,093 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. increased its stake in Flowserve by 21.2% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,109,157 shares of the industrial products company’s stock worth $64,540,000 after acquiring an additional 368,345 shares during the last quarter. 92.34% of the stock is currently owned by hedge funds and other institutional investors.
Flowserve Company Profile (Get Rating)
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket 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.
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