Flowserve (NYSE:FLS) Upgraded at StockNews.com

StockNews.com upgraded shares of Flowserve (NYSE:FLS) from a buy rating to a strong-buy rating in a research note published on Sunday.

FLS has been the subject of several other reports. Robert W. Baird raised their target price on shares of Flowserve from $50.00 to $57.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Bank of America increased their price target on Flowserve from $48.00 to $57.00 and gave the company a buy rating in a report on Tuesday, April 30th. UBS Group boosted their target price on Flowserve from $46.00 to $54.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their target price on shares of Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. Finally, TD Cowen increased their price objective on Flowserve from $50.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $51.55.

Flowserve Trading Up 0.6 %

Shares of FLS stock opened at $48.44 on Friday. The firm has a fifty day moving average price of $45.68 and a 200-day moving average price of $41.77. Flowserve has a 1 year low of $32.49 and a 1 year high of $49.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.25 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The firm 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 company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share. As a group, equities analysts predict that Flowserve will post 2.62 earnings per share for the current year.

Flowserve Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio is currently 47.46%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. purchased a new position in shares of Flowserve in the fourth quarter worth $26,000. YHB Investment Advisors Inc. acquired a new stake in Flowserve during the 1st quarter valued at approximately $36,000. Raleigh Capital Management Inc. increased its stake in shares of Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 596 shares during the period. TFO Wealth Partners LLC lifted its position in Flowserve by 14,663.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in Flowserve in the first quarter valued at $87,000. 93.93% of the stock is currently owned by hedge funds and other 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.