Flowserve (NYSE:FLS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flowserve (NYSE:FLS) from a buy rating to a strong-buy rating in a report published on Saturday.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group boosted their price objective on Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada upped their price target on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Citigroup upped their price target on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Robert W. Baird reduced their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Finally, Mizuho set a $60.00 price target on Flowserve in a research report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Flowserve presently has an average rating of “Buy” and an average price target of $65.78.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $53.77 on Friday. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 1.13 and a beta of 1.28. The firm’s 50 day simple moving average is $51.43 and its 200 day simple moving average is $51.53. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. Flowserve has a fifty-two week low of $37.34 and a fifty-two week high of $65.08.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. As a group, sell-side analysts forecast that Flowserve will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. Flowserve’s dividend payout ratio is currently 38.01%.

Institutional Investors Weigh In On Flowserve

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Murphy Pohlad Asset Management LLC raised its stake in shares of Flowserve by 0.7% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 65,590 shares of the industrial products company’s stock worth $3,434,000 after purchasing an additional 450 shares in the last quarter. Strs Ohio raised its stake in Flowserve by 9.3% in the 2nd quarter. Strs Ohio now owns 38,105 shares of the industrial products company’s stock valued at $1,995,000 after acquiring an additional 3,242 shares during the period. Retirement Systems of Alabama raised its stake in Flowserve by 50.5% in the 2nd quarter. Retirement Systems of Alabama now owns 240,681 shares of the industrial products company’s stock valued at $12,600,000 after acquiring an additional 80,780 shares during the period. Hantz Financial Services Inc. raised its stake in Flowserve by 149.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 418 shares during the period. Finally, Peregrine Capital Management LLC raised its stake in Flowserve by 44.2% in the 2nd quarter. Peregrine Capital Management LLC now owns 255,307 shares of the industrial products company’s stock valued at $13,365,000 after acquiring an additional 78,317 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.