Flowserve Corporation (NYSE:FLS) Given Consensus Recommendation of “Buy” by Analysts

Shares of Flowserve Corporation (NYSE:FLS) have been given an average recommendation of “Buy” by the ten research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $65.7778.

FLS has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. The Goldman Sachs Group upped their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Wall Street Zen lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. Royal Bank Of Canada upped their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Citigroup upped their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 14th.

Flowserve Stock Performance

Shares of FLS stock opened at $57.72 on Friday. The firm has a market capitalization of $7.55 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 1.15 and a beta of 1.29. The firm has a fifty day simple moving average of $54.28 and a two-hundred day simple moving average of $50.19. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. Flowserve has a 12 month low of $37.34 and a 12 month high of $65.08.

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

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. Flowserve’s dividend payout ratio is presently 38.01%.

Insider Activity

In other news, insider Kirk Wilson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the sale, the insider owned 37,196 shares in the company, valued at $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flowserve

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in Flowserve by 5.4% during the first quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company’s stock valued at $237,185,000 after buying an additional 248,273 shares during the period. Boston Partners bought a new position in Flowserve during the second quarter valued at about $223,561,000. AQR Capital Management LLC grew its position in Flowserve by 7.2% during the second quarter. AQR Capital Management LLC now owns 2,939,892 shares of the industrial products company’s stock valued at $153,903,000 after buying an additional 197,406 shares during the period. Earnest Partners LLC grew its position in Flowserve by 6.8% during the first quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock valued at $133,897,000 after buying an additional 173,528 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Flowserve by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company’s stock valued at $119,332,000 after purchasing an additional 75,374 shares during the last quarter. 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.