Flowserve Co. (NYSE:FLS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Flowserve Co. (NYSE:FLS) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $60.10.

Several brokerages have recently weighed in on FLS. The Goldman Sachs Group increased their price objective on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. TD Cowen increased their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Robert W. Baird upped their target price on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Institutional Trading of Flowserve

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its position in shares of Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after purchasing an additional 1,596,429 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Flowserve during the first quarter worth about $41,413,000. Vaughan Nelson Investment Management L.P. bought a new position in Flowserve in the 2nd quarter valued at about $37,100,000. AQR Capital Management LLC raised its position in shares of Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after buying an additional 663,631 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Flowserve by 5,256.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after buying an additional 600,866 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Trading Up 1.7 %

Flowserve stock opened at $53.54 on Tuesday. The stock has a 50-day simple moving average of $50.90 and a 200 day simple moving average of $49.05. The stock has a market capitalization of $7.03 billion, a P/E ratio of 26.50, a PEG ratio of 1.28 and a beta of 1.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 1.99. Flowserve has a 52 week low of $36.56 and a 52 week high of $55.90.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts expect that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.57%. Flowserve’s dividend payout ratio (DPR) is presently 41.58%.

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.