Flowserve (NYSE:FLS) PT Raised to $57.00

Flowserve (NYSE:FLS) had its target price raised by Robert W. Baird from $50.00 to $57.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

FLS has been the topic of a number of other research reports. StockNews.com lowered Flowserve from a strong-buy rating to a buy rating in a research report on Saturday, April 27th. Bank of America lifted their price target on shares of Flowserve from $48.00 to $57.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Citigroup raised their price objective on shares of Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a report on Monday, April 8th. Royal Bank of Canada increased their target price on Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus boosted their price target on Flowserve from $51.00 to $53.00 and gave the company a buy rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve currently has an average rating of Moderate Buy and a consensus target price of $51.55.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $47.52 on Wednesday. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.24 and a beta of 1.42. The firm’s 50 day simple moving average is $45.45 and its 200 day simple moving average is $41.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.27. Flowserve has a fifty-two week low of $32.49 and a fifty-two week high of $49.35.

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

Flowserve Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Flowserve in the 4th quarter valued at approximately $26,000. YHB Investment Advisors Inc. bought a new stake in Flowserve during the first quarter worth $36,000. Raleigh Capital Management Inc. lifted its stake in Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 596 shares during the last quarter. TFO Wealth Partners LLC grew its position in shares of Flowserve by 14,663.6% in the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,613 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Flowserve during the 1st quarter worth about $87,000. 93.93% of the stock is currently owned by institutional investors.

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.