Flowserve (NYSE:FLS) Price Target Raised to $53.00

Flowserve (NYSE:FLS) had its target price boosted by Stifel Nicolaus from $51.00 to $53.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research firms also recently weighed in on FLS. Mizuho upped their price target on Flowserve from $48.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Royal Bank of Canada upped their price target on Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a research note on Thursday, February 22nd. Citigroup upped their price target on Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a research note on Monday, April 8th. StockNews.com upgraded Flowserve from a buy rating to a strong-buy rating in a research note on Thursday, February 22nd. Finally, Robert W. Baird upped their price target on Flowserve from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $48.25.

Flowserve Price Performance

NYSE FLS opened at $45.81 on Wednesday. Flowserve has a 52 week low of $32.05 and a 52 week high of $48.31. The firm has a market capitalization of $6.01 billion, a P/E ratio of 32.49, a PEG ratio of 1.30 and a beta of 1.46. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $44.52 and a 200-day moving average price of $40.98.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. Equities research analysts anticipate that Flowserve will post 2.54 earnings per share for the current year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a dividend of $0.21 per share. This is an increase from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve’s dividend payout ratio is currently 59.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Moody National Bank Trust Division boosted its position in shares of Flowserve by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after acquiring an additional 259 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in Flowserve by 1.8% during the 3rd quarter. Integrated Investment Consultants LLC now owns 14,611 shares of the industrial products company’s stock valued at $581,000 after buying an additional 262 shares during the period. Treasurer of the State of North Carolina raised its holdings in Flowserve by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company’s stock valued at $2,285,000 after buying an additional 290 shares during the period. Verdence Capital Advisors LLC raised its holdings in Flowserve by 3.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,606 shares of the industrial products company’s stock valued at $382,000 after buying an additional 291 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Flowserve by 17.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,073 shares of the industrial products company’s stock valued at $59,000 after buying an additional 303 shares during the period. 93.93% of the stock is currently owned by institutional investors.

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.