Flowserve (NYSE:FLS) PT Raised to $54.00

Flowserve (NYSE:FLS) had its price target boosted by UBS Group from $46.00 to $54.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also recently commented on the stock. Bank of America increased their price target on shares of Flowserve from $48.00 to $57.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Mizuho reaffirmed a buy rating and set a $53.00 target price (up previously from $50.00) on shares of Flowserve in a report on Wednesday. Citigroup boosted their price target on Flowserve from $50.00 to $56.00 and gave the company a buy rating in a report on Monday, April 8th. Robert W. Baird upped their price target on Flowserve from $50.00 to $57.00 and gave the company a neutral rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price objective on shares of Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flowserve currently has a consensus rating of Moderate Buy and an average target price of $51.55.

Flowserve Stock Performance

NYSE:FLS opened at $47.52 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.27. The firm has a 50-day moving average of $45.45 and a two-hundred day moving average of $41.58. The stock has a market cap of $6.26 billion, a P/E ratio of 26.85, a PEG ratio of 1.25 and a beta of 1.42. Flowserve has a 1-year low of $32.49 and a 1-year high of $49.35.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. On average, research analysts expect that Flowserve will post 2.62 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The company also recently declared 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. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is currently 47.46%.

Institutional Investors Weigh In On Flowserve

Several large investors have recently made changes to their positions in FLS. Norges Bank bought a new position in Flowserve in the 4th quarter worth approximately $59,261,000. Clearbridge Investments LLC bought a new position in shares of Flowserve in the third quarter worth $29,745,000. Hennessy Advisors Inc. bought a new position in shares of Flowserve in the fourth quarter worth $22,321,000. AQR Capital Management LLC grew its stake in shares of Flowserve by 270.4% in the third quarter. AQR Capital Management LLC now owns 636,509 shares of the industrial products company’s stock worth $25,314,000 after purchasing an additional 464,667 shares in the last quarter. Finally, Pantechnicon Advisors LLP bought a new position in shares of Flowserve in the third quarter worth $17,976,000. Institutional investors and hedge funds 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.